Revised STFI & EQ (Earthquake) Rate – w.e.f 15/12/2023 - Fire and Engineering Policy

General Insurance Products

Rates to be charged for Property (Fire, Fire LOP, BG Package & IAR) Policies

Occupancy	Rate Previous (per mille)	Revised Rate 15th Dec, 2023 (per mille)
Dwellings other than Co-operative Hsg Society	0.075	0.075
Non Industrial – Co-operative Housing Society, Hotels, Shops as per Section III of erstwhile Tariff	0.180	0.220
Industrial including utilities located outside the manufacturing and tank farm/gas holders Section IV, V,VII of erstwhile Tariff	0.310	0.370
Standalone Storage (outside manufacturing premises) Section VI of erstwhile Tariff (in Godown)	0.430	0.520
Standalone Storage (outside manufacturing premises) Section VI of erstwhile Tariff (in open)	1.870	2.250
Roads incl Bridges/Culverts/Viaducts/Tunnels. Assets Like Tollways, road assets etc associated with Operational Roads necessarily would attract the rate applicable to roads.	0.430	0.520
Pipelines	0.430	0.520
Railway Tracks incl Metro Tracks	0.430	0.520
T and D Lines	0.430	0.520
Cellular Network Policies	0.430	0.520

Earthquake rates to be charged

Zone	IV	III	II	I
Dwellings other than Co-operative Housing Society	0.05	0.05	0.05	0.05
Non-Industrial - Co-operative Housing Society, Hotels, Shops as per Section-III of erstwhile Tariff	0.05	0.10	0.15	0.25
Industrial – including Standalone Storage outside the manufacturing units, Utilities outside the manufacturing units.	0.05	0.10	0.25	0.50

Rates to be charged for Engineering Policies

STFI rates to be charged for Engineering policies: 0.3 per mille per annum or 0.03%

Earthquake	Zone	IV	III	II	I
EAR /CAR/CPM /EEI (Annual rates)		0.05	0.10	0.25	0.50

Note:

• The premium on engineering policies in respect of STFI and EQ to be charged on pro rata basis based on duration of the policy.
• No discounts of any kind including higher excess discounts or in lieu of agency commission/brokerage to be allowed as these are minimum rates.
• No deletion of STFI /EQ to be allowed under project policies.
• No first loss basis cover for EQ allowed under project policies.
• The above are the minimum rates to be charged and all insurers are free to load the rate based on the individual risk features and claims experience.

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