annual report 2009-10 - IRDA

ANNUAL REPORT 2009-10OBLIGATORY CESSIONS RECEIVED BY GICANNEX 6Class Limit of Cession in Sum Insured (SI) Reinsurance ProfitCommission (%) Commission (%)Fire, IAR ` 500 crore SI (MD+LOP) per risk 15-30 25-30Large Risks ` 500 crore SI (MD+LOP) per risk 10 20Marine Cargo ` 25 crore SI per policy 15-20 10Marine Hull ` 40 crore SI per Vessel 15-17.5 15War & SRCC ` 40 crore SI per Vessel 10 NilMotor, Workmen’s Compensation No Limit 15-20 15-30General Aviation Hull No Limit 10 15General Aviation Liability No Limit 10 15Aviation (Airlines) ` 300 crore SI per risk on hull & corresponding Average Terms Nilpercentage share on other insurancesOil & Energy ` 37.50 crore SI per risk 5 20Liability: Casualty and ` 12.5 crore per policy including USA/ 20 15Financial Liability ` 25 crore per policy excluding USACredit and Guarantee Lines, ` 25 crore SI per event 10 15Mortgage InsuranceCrop/Weather InsuranceOther Miscellaneous No Limit 15-20 15Engineering Machinery Breakdown/ ` 100 crore per risk 15-27 25-30Boiler Explosion/Loss of ProfitContractor All Risk/Erection ` 300 crore per risk (MD+LOP) 15-27 25-30All Risk/Advance Loss ofProfit/Delay in Start UpMD: Material Damage; LOP: Loss of profit211