Reference is made to the renewal of various classes of insurance for another year effective from 01-01-2016
in view of the recent rain/flood claim occurred to the properties kept at ncc complex building, salwa road on 25/11/2015,we would like to bring to your notice that numerous reinsurers are involved on this account and despite their compulsion to increase the rate , which being standard practice after getting a big claim, we have managed to maintain the rate as same in view of the excellent business relationship between us
However in order to continue their participation they wanted us to incorporate the following amendments/warranties to the property all risks policies w.e.f the renewal inception:
Warranted to adopt all remedial issues to prevent rain/flood water damage to properties at all the premises with immediate effect including an elevation of ground to a minimum of 40 cm from the existing ground level
Subject to a deductible of 5% of the claim amount with minimum of QRs 10.000/- against rain/flood water damage w.e.f 01/01/2016