Swathi Arbl Projectjkjkfj

8/21/2019 Swathi Arbl Projectjkjkfj

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REDUCTION OF INSURANCE COST

INTRODUCTION TO FINANCIAL MANAGEMENT:

MEANINIG OF FINANACE:

Finance is the science of funds management. Finance includes saving money and

often includes lending money. The field of finance deals ith the conce!ts of time" money and

#is$ and ho they a#e inte##elated. It also deals ith ho money is s!ent and %udgeted.

Finance is #elated to money and money management. Incidentally" it is also #elated to the

inflo and outflo of funds. In vie of the fact it is the life %lood of economic activity.

FINANCIAL MANAGEMENT:

Financial management mainly involves #ising of funds and thei# effective utili&ation

ith the o%'ective of ma(imi&e sha#eholde#s ealth.

Financial management is an o!e#ational activity of a %usiness that is #es!onsi%le fo#

o%taining and effectively utili&ing the funds necessa#y fo# efficient o!e#ations.

Financial management is conce#ned ith the ac)uisition" financing and managing the

assets of the o#gani&ations.

Financial management is the !#ocess of managing the financial #esou#ces" including

accounting and financial #e!o#ting" %udgeting" collecting accounts #eceiva%le" #is$

management" and insu#ance fo# a %usiness.

The financial management system fo# a small %usiness includes %oth ho you a#e

financing it as ell as ho manage the money in the %usiness.

FINANCIAL FUNCTIONS:

It may %e difficult to se!a#ate the finance functions f#om !#oduction" ma#$eting and othe#

functions" %ut the functions themselves can %e #eadily identified. Financial functions include*

+ong te#m asset mi( o# investment decisions

Ca!ital mi( o# financing decisions

,#ofit allocation o# dividend decisions

-.C.R.INSTITUTE OF ANA/EENT STUDIESPage1


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Sho#t te#m asset mi( o# li)uidity decisions

FINANCIAL GOALS:

The fi#m0s investment and financing decision a#e unavoida%le and continuous. In o#de#

to ma$e the #ationally" the fi#m must have a goal. The folloing a#e the goals.

,#ofit ma(imi&ation

1ealth ma(imi&ation

a(imi&ing ea#ning !e# sha#e

MEANING OF INSURANCE:

Insu#ance is a !olicy f#om a la#ge financial institution that offe#s a !e#son" com!any" o#

othe# entity #eim%u#sement o# financial !#otection against !ossi%le futu#e losses o# damages.

Insu#ance is legal contact %eteen to !a#ties. 1he#e %y one !a#ty" called the 2Insu#e#

o# the insu#ance com!any3. Unde# ta$es to com!ensate the othe# !a#ty called the 2Insured 2fo#

any loss o# damage suffe#ed %y the latte#" in conside#ation of !ayment of 2!#emium3 fo# a

ce#tain !e#iod of times is $non as 2Insurance.

Every veic!e "n #e r"ad is c"vered $y %"#"r insurance as i# is a %anda#"ry

re&uire%en#3. A sim!le e(am!le ill ma$e the meaning of insu#ance easy to unde#stand. A

%ic$e# as alays su%'ected to the #is$ of head in'u#y. 4ut it is not ce#tain that the accident

causing him the head in'u#y ould definitely occu#.Still"!eo!le #iding %i$es cove# thei# heads

ith helmets in such cases acts as insurance%y !#otectinghim'he# f#om any !ossi%le dange#.

The !#ice !aid as the !ossi%le inconvenience o# act of ea#ing the helmet. This e)uivalent tothe insu#ance !#emiums !aid.

DEFINITION OF INSURANCE:

In la and economics" insu#ance is a fo#m of #is$ management !#ima#ily used to hedge

the #is$ of a contingent" unce#tain loss. Insu#ance is defined as the e)uita%le t#ansfe# of the #is$

of a loss" f#om one entity to anothe#" in e(change fo# !ayment. An insu#e# is a com!any selling

the insu#ance5 an insu#ed o# !olicyholde# is the !e#son o# entity %uying the insu#ance !olicy. The

insu#ance #ate is a facto# used to dete#mine the amount to %e cha#ged fo# a ce#tain amount of



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insu#ance cove#age" called the !#emium. Ris$ management" the !#actice of a!!#aising and

cont#olling #is$" has evolved as a disc#ete field of study and !#actice.

Insu#ance can %e define as the !#ocess of #eim%u#sing o# !#otecting a !e#son f#om

contingent #is$ of losses th#ough financial means" in #etu#n fo# #elatively small" #egula#

!ayments to the insu#ing %ody o# insu#ance com!any.

Insu#anceis the !ooling of fo#tuitous losses %y t#ansfe# of such #is$s to insu#e#s" ho

ag#ee to indemnify insu#eds fo# such losses" to !#ovide othe# !ecunia#y %enefits on thei#

occu##ence" o# to #ende# se#vices connected ith the #is$.

INSURANCE ACT:

6The 2Insu#ance Regulato# and Develo!ment Autho#ity3 2Act 788839.

It also aims to amend the insu#ance 2Act 78:;3. The +ife Insu#ance Co#!o#ation 2Act 78


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ARINE INSURANCE

>EA+T> INSURANCE

REDUCTION OF INSURANCE COST:

>o does the o#gani&ation gain advantage du#ing times of economic tu#moil0s this

)uestion is u!!e#most in the minds of %usiness leade#s today. Th#ough ou# Accentu#e #esea#ch"

e $no high !e#fo#mance %usinesses act decisively at all times and ta$e advantage of

focused g#oth o!!o#tunities. They also !#actice #a!id and sustained cost management

!#inci!les to gene#ate cash flo and #einvested a !o#tion of that %ac$ into thei# %usiness to

su!!o#t g#oth and othe# st#ategic initiatives.

In an unce#tain economy" #educing cost )uic$ly ithout sloing g#oth is a f#ont ?

and@cent#e issue that ma$es #a!id and sustained cost management a c#itical st#ategy fo#

com!anies dete#mined to succeed du#ing afte# an economic slodon. Accento#0s a!!#oach is

to focus on to $inds of initiatives* those that d#ive o!e#ating advantage and those that d#ive

st#uctu#al advantage.

4usiness folloing a disci!lined" analytical d#iven cost #eduction a!!#oachout!e#fo#ms thei# !ee#s in #evenue g#oth" !#ofita%ility" cash flo and total #etu#n to

sha#eholde#s" and the sustained and inc#ease thei# ma#$et leade#shi! ove# time.

,olicy of cutting cost to im!#ove !#ofita%ility. It may %e im!lemented hen a com!any

having a financial !#o%lems and must 2tighten its %elt3. In some cases" the fi#m is initiating a

!olicy to eliminate aste and inefficiency. A cost #eduction !#og#am may det#act f#om the

)uality of ea#nings hen significant cuts a#e made in disc#etiona#y costs.

>o to #educe insu#ance cost*

Negotiations

4iddings

,#emium #eduction

Ta$ing safety measu#es

A!!#oved t#ans!o#te#s



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>andling ca#e fully

Using innovations and mode#n methods fo# loading and unloading.

Ris$ facto#y

-aluation of assets

INDUSTR( )ROFILE

INTRODUCTION:

This cha!te# deals ith indust#y !#ofile hich gives a%out the info#mation #ega#ding the

%atte#ies and its #elated !#oducts" cha#acte#istics and in hich secto# these a#e useful. A %atte#y

is an elect#ochemical device in hich the f#ee ene#gy of chemical #eactions is conve#ted into

the elect#ical ene#gy.

The chemical ene#gy contained in the active mate#ials is conve#ted into elect cal ene#gy

%e means of elect#ochemical o(idation@#eduction #eaction.

+O, A -ATTER( ,ORS:

1hen you !lace the $ey in you# ca#0s ignition and tu#n the ignition sitch to 2ON3 a

single is sent to the ca#0s %atte#y. U!on #eceiving this signal the ca# %atte#y ta$es ene#gy that it

has %een st#ong in chemical fo#m and #eleases it as elect#icity. This elect#ic !oe# is used to

c#an$ the engine. The %atte#y #eleases ene#gy to !oe# the ca#0s lights and othe# accesso#ies. It

is the only device" hich can sto#e elect#ical ene#gy in the fo#m of chemical ene#gy" and hence

it is called as a st#ong %atte#y.

SEALED MAINTENANCE FREE /SMF0 -ATTERIES:

Sealed maintenance f#ee 6SF9 %atte#ies technologies a#e loading the %atte#y indust#y

in #ecent yea# in automo%ile and indust#ial secto# a#ound the glo%e.

SF %atte#y come unde# the #echa#gea%le %atte#y catego#y so is can %e use a no. of time in the

life of a %atte#y0s %atte#ies a#e mo#e economical than nic$el cadmium %atte#ies .these %atte#ies

a#e mo#e com!act than the est ty!e %atte#ies. It can %e use at any !osition5 these %atte#ies a#e

ve#y !o!ula# fo# !o#ta%le !oe# #e)ui#ements and s!ace const#aint a!!lication.



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*ALUE REGULATED LEAD ACID /*RLA0 -ATTERIES:

-R+A %atte#ies a#e lea$ !#oof" s!ill@!#oof and e(!losion ? #est#ict and having life

du#ation of 7@=B yea#s. These %atte#ies ithstand the envi#onmental conditions due to high

technology" in %uilt in the %atte#ies. Each cell is housed in a !oe# coated steel t#ay ma$ing

them convent t#ans!o#t and installation0s t#ansit damages a#e minimi&ed in cases of %atte#ies.

Sealed maintenance f#ee 6SF9 %atte#ies and value #egulated lead acid 6-R+A9 %atte#ies

technology a#e leading the %atte#ies indust#ies in #ecent yea#s. In auto mo%ile and indust#ial

%atte#y secto# a#ound the glo%e -R+S %atte#ies have %ecome the !#efe##ed choice in va#ious

a!!lications such as uninte##u!ted !oe# su!!ly" eme#gency lights" and secu#ity systems and

eighting scales.

CLASSIFICATION OF -ATTERIES:

4atte#ies a#e %#oadly classified into to segments li$e*@

Automotive %atte#ies

Indust#ial %atte#ies

AUTOMOTI*E -ATTERIES:

A!a#t f#om mo!eds all othe# automo%iles including need sto#age %atte#y0s automotive

%atte#ies a#e !laying !#e?dominant #ole in automo%ile secto# %y influencing custome#s in the

automo%ile ma#$et. Automo%ile %atte#ies can %e fu#the# distinguished as the o#iginal

e)ui!ment 6OE9 ma#$ets as lo as @.OE segment has the advantage of secu#ing

continuous o#de# and in )ue#ies. This ena%les manufactu#es to st#eamline !#oduction facilities"

!lan !#oduction schedules and attain ce#tain level of o!e#ational efficiency.

The #e!lacement ma#$et" on the othe# hand" is much la#ge#. The #e!lacement ma#$et is

cha#acte#iesed %y the !#e sense of la#ge uno#gani&ed secto#" hich constitutes a#ound @B

of the total #e!lacement ma#$et. This is !ossi%le due to lo ca!ital ent#y %a##ie#. These !laye#s

have the advantage of in a!!lica%ility duties.

INDUSTRIAL -ATTERIES:

The indust#ial %atte#y segment com!#ises of to main catego#ies. One com!#ise of the2stationa#y segment 2and second #elating to3 motive !oe# and eclectic vehicles3. The motive



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!oe# and the elect#ic vehicle segment com!#ising of telecom" #ailays and !oe# indust#ies

have #egiste#ed a g#oth In e(cess of =B and this t#end is li$ely to continue in the ne(t five

yea#s.

The Indust#ial segment is highly technological intensive and access to high )uality

o#ld@class technology is an im!o#tant facto# and is vital fo# %#and #efe#ence. The total

demand fo# the indust#ial %atte#y segment is met %y indigenous !#oduction ith small saves of

a%out 7B %y im!o#ts. The demand fo# indust#ial %atte#ies has g#on sloly and steadily. All

fo# as indust#ial %atte#ies a#e conce#ned the evolving consciousness among Co#!o#ate and

/ove#nment de!a#tments #ega#ding envi#onment facto#s ill #esult in a shift toa#ds

!ollution@f#ee technology. The#e has %een a !#efe#ential shift in this segment f#om theConventional +ead %atte#ies to sealed maintenance f#ee %atte#ies 6SF9. The %ull of %atte#y

indust#y admits that the sales a#e fallen %ut at the same time they a#e e(!ecting la#ge# o#de#s

es!ecially f#om telecom indust#y" hich gets going. Due to st#ong custome#s li$e telecom"

#ailays and elect#icity %oa#ds" the indust#ial %atte#ies a#e on !#os!e#ous scale

)ORTA-LE )O,ER S(STEM:

,o#ta%le !oe# system offe#s the convenience of Alte#nating Cu##ent 6AC9 !oe#.1heneve# utility is unavaila%le. Due to thei# non@#eliance on gi#d lines" !oe# !ac$s ma$e an

ideal com!anion to %e along on vocations to delive# hou#s of !oe# to a cellula# !hone" a

la!to! com!ute#" o# a !o#ta%le television.

REC(CLING -ATTERIES:

4atte#y acid is #ecycled %y neut#ali&ing it into ate# of conve#ting it to sodium

sul!hate fo# laund#y dete#gent" glass and te(tile manufactu#ing. Cleaning the %atte#y cases"

meeting the !lastic and #efo#ming it into unifo#m !ellets #ecycle !lastic. +ead" hich ma$es u!

B of eve#y %atte#y" is method" !ou#ed into sla%s and !u#ified.

The folloing a#e the ma'o# manufactu#e#s in %atte#y indust#y in India"

E(ide Indust#ies

Standa#d 4atte#ies

Amco 4atte#ies

Tudo# India

Ama#a Ra'a 4atte#ies +td.

>yde#a%ad 4atte#ies +td.



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Sealed aintenance F#ee 6sum9 %atte#ies and -alue Regulated +ead Acid 6-R+A9

technologies a#e leading the %atte#y indust#y in the #ecent yea#s in the !#efe##ed choice in

va#ious a!!lications such as uninte##u!ted !oe# su!!ly" eme#gency lights" and Secu#ity

systems and eighing scale.

C+ARACTERISTICS OF *RLA -ATTERIES:

DF %atte#ies a#e comes unde# the #echa#gea%le %atte#y catego#y so it can used a num%e# of

times in the life of %atte#y.

SF %atte#ies a#e mo#e economical than nic$el cadmium %atte#ies. These %atte#ies a#e

mo#e com!act than the et ty!e %atte#ies. It can %e used at any !osition* these %atte#ies a#e

ve#y !o!ula# fo# !o#ta%le !oe# #e)ui#ements and s!ace const#aint a!!lications.

-R+A %atte#ies a#e lea$ !#oof" s!ill !#oof and e(!losion #esistant and having life du#ation of

7@=B yea#s. These %atte#ies ithstand the envi#onmental conditions due to high technology in

%uilt in the %atte#ies. Each cell is housed in a !oe# coated steel t#ay ma$ing them convenient

to t#ans!o#tation and installation" so t#ansit damages a#e minimi&ed in the case of the %atte#ies.

)ROS)ECTS OF SMF'*RLA -ATTERIES IN INDIA:

The folloing facto#s a#e influencing the demand fo# -R+A technology %atte#ies.

Ent#y to multinational in Telecom indust#y.

DOT0s !olicy decisions to u!g#ade the ove#all technology %ase.

Const#aints in the use of use of conventional %atte#y in #adio !aging and cellula# segments.

Due to !#o'ect e(!ansion in Telecom Railays" the demands fo# -R+A 4atte#ies a#e

g#eate# than othe# indust#ial %atte#ies.

Telecom The /ove#nment0s !olicy to inc#ease the ca!acity f#om 7B million to =7

million lines %y =BBB inc#eased the demand fo# sto#age %atte#ies conside#a%ly the value added

se#vices li$e #adio !aging and cellula# ill inc#ease the demand fo# sto#age %atte#ies in futu#e

conside#a%ly.

RAIL,A(S:



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In Railays" the demand estimate is %ased on the annual coach !#oduction this comes

to =BB num%e#s %y Railays itself and 7BBB num%e#s mo#e %y va#ious othe# segments"

#e!lacement demand and annual #e)ui#ement fo# #ailays elect#ification.

FIRST NATIONAL -ATTERIES1LEAD ACID -ATTERIS FOR ALL

A))LICATIONS:

Fi#st national %atte#ies is the leading manufactu#e and dist#i%uto# of lead acid %atte#ies

fo# use in mine lighting" automotive and othe# indust#ial a!!lications in South Af#ica. At

!#esent" a significant sha#e of all ne moto#.

Fi#st national %atte#ies a#e cu##ently the o#iginal e)ui!ment su!!lie# to the folloing

South Af#ican moto# manufactu#e.

Daimle# Ch#ysle#

Toyota

itsu%ishi

.A.N

41 and Nissan.

MISSION STATEMENT OFAMARARA2A:

)O,ER SECTORS:

In this secto#" the estimated 8B !#ivate !oe# !#efects ho a#e e(!ected to !#oduce

B"BBB - ith an a!!#o(imate ca!ital outlay of RS. 7" B"BBB c#o#es ould $ee! the

indust#y0s futu#e %#ighte# in the coming yea#s.

The demand of -R+A %atte#ies is inc#easing due to its !e#fo#mance ove# conventional

%atte#ies. So it is mo#e acce!ta%le to consume#s. The#e a!!ea#s to %e a conside#a%le !otential

fo# elect#ically o!e#ated mate#ial handling e)ui!ment and #elated vehicle %esides the

!#ivati&ation of technology. It is e(!ected to gene#ate demand fo# va#ious a!!lications. The

!oe# secto# is also o!ening u! a setting u! !f gene#ating stations ill give a %oost to demand



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levels. The demand is OE segments ill g#o time ith the g#oing automation in

indust#ies.

The domestic sto#age %atte#y indust#y is in the !#ocess of t#anscending the !ast

limitations in the technology f#ont and the ne so!histicated %atte#y ill %e int#oduced in

futu#e th#eat f#om the ove#seas su!!lies do not at the cu##ent moment a!!eal to %e significant.

STORAGE -ATTERIES:

In the sto#age %atte#y indust#y" some ne units have come u!. The latest develo!ment

in this field is maintenance f#ee #echa#gea%le sto#age %atte#y. These a#e also $non as -alue

Regulated +ead Acid 6-R+A9 o# Sealed aintenance F#ee 6SF9 %atte#ies. Im!#ovement oftechnology in this indust#y is %enefiting custome#s.

)LASTIC -ATTER( COM)ONENTS:

Fi#st national %atte#y has !lastic !#ocessing !lant he#e mo#e than =B million %atte#y

com!onents is !#oduced annually on !lastic in'ection moldings e)ui!ment f#om Bt to ;t

ca!acity.



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COM)AN( )ROFILE

Ama#a #a'a %atte#ies limited 6AR4+9 inco#!o#ated unde# the com!any0s act 78 on

7:th Fe%#ua#y 78; and conve#ted in to !u%lic limited com!any on 7th Se!tem%e# 788B.

The chai#man and managing di#ecto# of the com!any is 2S#i /alla Ram Chand#a Naidu3.

AR4+ is the fi#st com!any is India hich manufactu#es value #egulated lead acid 6-R+A9

%atte#ies. the main o%'ective of the com!any is manufactu#ing of good )uality of 2sealed

maintenance f#ee3 6SF9 acid %atte#ies .The com!any is setting u! to #s.7"8=B la$hs !lant is in

7; ac#es in $a#a$am%adi village" Renigunta andal. The !#o'ect site is notified unde# 243

catego#y.

The com!any has the clea#@cut !olicy of di#ect selling ithout any inte#mediate. So they

have setu! si( %#anches and a#e o!e#ated %y co#!o#ate o!e#ations office located in Chennai.

The com!any has vi#tual mono!oly in highe# A.> 6Am! >ou#9 #ating ma#$et its !#oduct

-R+A. It is also having the facility fo# indust#ial and automotive %atte#ies.

Ama#a #a'a is GS0 com!anies and its aim is to im!#ove the o#$ !lace envi#onment %y using

GS0 techni)ues hich is*

A systematic and #ational a!!#oach to o#$ !lace and methodical house $ee!ing ith

a sense of !u#!ose" of folloing five elements.



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3. SEIRI @ So#t out "

@ Seg#egate necessa#y f#om unnecessa#y. @ Disca#d hat is not #e)ui#ed. @ Decide on f#e)uency of so#ting.

4. SEITION @ Systematic a##angement @ A##anging in o#de# @ A !lace fo# eve#ything and eve#ything in it !lace

5. SEISO @ S!ic and s!am @ Cleaning the o#$ !laceHe)ui!ment @ Ensu#ing ti! to! condition

6. SEIETSU @ Standa#dition @ 1o#$ing methodology 6!#ocedu#es and o#$ inst#uments9

7. S+ITSUE @ Self disci!line @ Fo#ming the ha%it@4e disci!line

T+E( )UR)OSE TO ACCOM)LIS+ T+IS -(:

T#aining the !eo!le and c#eating aa#eness on 0s0

otivating and changing the %ehavio# !atte#ns of the ,eo!le

Esta%lishing standa#dH!#ocedu#es fo# the Im!lementation of each element of 0s0

They %elieve that effective im!lementation of 0S0techni)ues ill #esult in*

Consistent and %ette# )uality !#oduct

>ighe# !#oductivity

+esse# accidents

>ighe# em!loyee mo#ale

COLLABORATION:

Ama#a #a'a %atte#ies limited e#e a st#ategic tie u! ith 2ohnson cont#ols Inc3 of

USA ho ons = stac$ in this com!any .It is the la#gest manufactu#es of lead acid %atte#ies

in No#th Ame#ica. The main o%'ective of the com!any is manufactu#ing of good )uality of

2sealed maintenance f#ee acid %atte#ies 6SF9.The annual g#oth #ate of a com!any is



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=.!e# annum. The !#esent tu#nove# of the com!any is Rs.=igh integ#ity -R+A systems li$e !oe# stac$ and

!oe# !lus o# the #ecently launched high !e#fo#mance U,S 4atte#y@JO4AT And

AARON hi@life automotive %atte#ies a#e the !#oducts of the colla%o#ative %atte#y effo#ts of

enginee#ing at ohnston cont#ols Inc and ama#a#a'a.AMARON launched in anua#y =BBB"

Ama#a #a'a has !ionee#ed the int#oduction of hi@cu%e automotive %atte#ies in India. This &e#o

maintenance !#oduct uses the #evolutiona#y !atend silve# K technology develo!ed %y ohnson

cont#ols fo# high envi#onments and inco#!o#ates ay su!e#io# featu#es that ma$e it the mostadvantage %atte#y on #oads anyhe#e in the o#ld.

STRENGT+S: ,#oven technology f#om /N4 and %eing a !ionee#*

St#ong and ell o#gani&ed custome# %ase

Full@o#gani&ed inf#ast#uctu#e in !lace

anufactu#ing facilities !e#ceived as a %enchma#$ in India

Com!lete #ange of -R+A %atte#ies

,#oven field !e#fo#mance in all use# segment

A!!#oved vendo# status in ma'o# use# segments

2To t#ansfe# ou# s!he#es of influences and en#ich the )uality of life %y %uilding institutions

that !#ovides %ette# access to %ette# o!!o#tunities" goods and se#vices. To mo#e !eo!le GAll the

time0.

*ALUES 8 -ELIEFS:

They %elieve in t#eating each othe# ith honesty" fai#ness" dignity and #es!ect and in

c#eating a safe "healthy and !leasant o#$!lace They %elieve in innovative and o!timum use of ou# continuous im!#ovement eve#ything

e do" as they a#e !#e@#e)uisites fo# sustained g#oth.

They %elieve that the em!oe#ment of ou# !eo!le is the foundation of ou# st#ength. 1e

ill hel! each othe# to o#$ in teams and hold each othe# accounta%le to fai#

cont#i%ution in achieving ou# collective goals"



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They ill st#ive to e(ceed ou# custome#0s eve# inc#easing e(!ectations though

continuous im!#ovement in )uality" se#vice su!!o#t and time com!#ession.

SOCIAL )ROGRAMMES:

>ousing colony fo# em!loyees in !#og#ess. Total !lan" BB families ove# five yea#s.

,lan to !#ovide community hall" o!en audito#ium" !a#$s and !lay g#ound.

T#aining cente# fo# em!loyees.

4achelo#0s hostel" co@o!e#ative sto#es %an$s in o!e#ation.

Roads" ate# su!!ly" st#eetlights" g#eene#y educational villages.

Aa#d and #ea#d to the younge# gene#ation fo# im!#ovement of education.

ode#ni&ation of !u%lic !a#$s fo# the fledged #ec#eation of child#en.

,u%lic aa#eness !#og#ams 6in um%ai9 on envi#onmental !#otection" th#ough st#eet

Theat#e3hose um%ai is it any ay3 on the occasion Of Ea#thday A!#il =: #d=BB7.

-RAND:

Ama#a #a'a0s #eflects the innate dynamism of the com!any .the em%lem demonst#ates the

inte#!lay of the unive#sally in Lang sym%ols and the !hiloso!hy of %alanced fo#ces. the colo#

g#een and %lac$ em!hasi&e the !e#fect symmet#y of a%so#%ing and #eleasing ene#gies" hile

the enti#e fo#m in continuous motion signifies un#elenting !#og#ess. The colo# g#een also

elucidates the #ole of technology as an integ#al !a#t of the com!any0s g#oth. Not incidentally"

it also connotes the com!any0s #esolve to !#ese#ve and natu#e the envi#onment.

CULTURE AND EN*IRONMENT:

Ama#a #a'a is !utting a no. of >RD initiatives to foste# a s!i#it of togethe#ness and a

cultu#e of me#itoc#acy. Involving em!loyees at all levels in %uilding o#gani&ational

su!!o#t !lans and in evolving ou# vision fo# the o#gani&ation.

AR4+ encou#age initiative and g#oth of young talent allos the o#gani&ation to

develo! innovative solution and ideas.



15/108


4enchma#$ !ollution cont#ol measu#es" ene#gy conve#sation measu#es" aste #eduction

schemes" massive g#een %elt develo!ment !#og#ams. Em!loyee health monito#ing and

indust#ial safety !#og#ams have hel!ed AR4+ to ta$e fu#the# envi#onment management

!#og#am.

9UALIT( )LOIC(:

AR4+0s main aim is to achieve custome# satisfaction th#ough the collective

commitment of em!loyees in design5 manufactu#e and ma#$eting of #elia%le !oe# systems"

%atte#ies" allied !#oducts and se#vices.

TO ACCOM)LIS+ AR-LFOCUS ON:

Esta%lishing su!e#io# s!ecifications fo# ou# !#oducts and !#ocesses

Em!loying state ?of@the@a#t technologies and #o%ust design !#inci!les.

St#iving fo# continuous im!#ovement in !#ocess and !#oduct )uality.

Im!lementing methods and techni)ue to monito# )uality levels.

,#ovided !#om!t afte# sales se#vice.

RESEARC+ 8 DE*ELO)MENT

S!ecific a#eas in hich the com!any ca##ies out RD a#e,

Ne !#oduct develo!ment

,#ocess technology u! g#adation

A!!lication enginee#ing fo# ne ma#$et !lace

Muality im!#ovements

-ENEFITS DERI*ED AS A RESULT OF A-O*E R 8 D:

vH=BBah %atte#ies

Design o!timi&ation of highe# A> %atte#ies fo# DOT a!!lication

Design o!timtsation of %atte#ies8=vH7=; fo# T+HAC@#ailay a!!lication.

Fo#mation cycle o!timi&ation #esults in #educed du#ation and #e'ection

Chemist cu#ing cycle o!timi&ation anufactu#e# of automo%ile %atten0s fo# fou#@heele# vehicles.



16/108


Comme#ciali&ation of moto#@cycle %atte#ies develo!ment

FUTURE )LAN OF ACTION:

A ne #ange high integ#ity -R+A cell design

Esta%lishment of !#oduct fo# ne a!!lication segment

Studies on !aste additives to enhance the %atte#y !e#fo#mance

In@de!t evaluation of metal su#face t#eatment chemicals to #educe the !#ocess cycle

time -alidating alte#native g#ades of !#o!ylene to conve#se ene#gy and to im!#ove

!#oductivity.

A,ARDS:

>ono#a%le docto#ate deg#ee3 ? =BB;%y S - Unive#sity" Ti#u!atthi and NTU "

>yde#a%ad 2The s!i#it of e(cellence3 ? Aa#d %y academy of fine a#ts" Ti#u!atthi

24est ent#e!#eneu# of the yea# 788;3 @ %y >yde#a%ad association

2Indust#ial economist %usiness e(cellence aa#d@78873 ? aa#d %y the indust#ial

economist Chennai. 2E(cellence aa#d3 ? %y institution of Economic Studies 6ES9" Ne Delhi.

2Undying #attan aa#d3 ? %y institution of ES I" ne Delhi

2M7 ce#tificate@=BB=3 ? %y FORD Com!any.

AMARARA2A GROU) OF COM)ANIES:

AARARAA ,O1ER SLSTE ,U4+IC +TD 6AR,S+9 " Ja#a$am%adi " Ti#u!ati

AN/A+A ,RECISION ,RODUCTS ,U4+IC+TD. 6R,+79" $a#a$am%adi"

Ti#u!ati. AN/A+A ,RECISION ,RODUCTS ,U4+IC+TD6R,,+;9" ,etamitta" chittoo#

AARARAA E+ECTRRONICS ,U4+IC +TD" 6ARE,+9" Dighavamgham" chittoo#

/A++A FOODS ,U4+IC +TD6/F,+9" ,uthala!attu" chittoo#

GENERAL INFORMATION*

AR-L

Indus#ria! $a##ery divisi"n Au#" $a##ery divisi"n



17/108


Railay coaches

Telecom

U,S

INDUSTRIAL -ATTER( DI*ISION:

Ama#a #a'a has %ecome the %enchma#$ in manufactu#e# of indust#ial %atte#ies. India

has one of the la#gest and fasted g#oth ma#$ets fo# indust#ial %atte#ies in the o#ld. Ama#a

#a'a has leading in the f#ont5 ith an ;Bma#$et saha#e is stand %y -R+A %atte#ies !oint of

vie .It is also having the facility fo# !#oduction !lastic com!onents.AR4+ is the fi#st

com!any in India to manufactu#e# -R+A 6SF9 %atte#ies .The initial investment of the

com!any has Rs.78=Bla$hs5 the total land is a#ound 7; ac#es in $a#a$am%adi village" and

Renigunta andal. The !#o'ect site is notified unde# G40 catego#y.

AUTOMOTI*E -ATTER( DI*ISION /A-D9*

AR4+ has inaugu#ated its ne automotive !lant at $a#a$am%adi in Ti#u!atthi on

Se!tem%e# =th "=BB7.This !lan is a !a#t of the most com!letely integ#ated %atte#y

manufactu#ing facility in India ith all c#itical com!onents" including !lastics sou#ced in

house fo#m e(isting facilities on site. In this !#o'ect" Ama#a#a'a Gs st#ategic alliance !a#tne#s

ohnson cont#ols Inc." of USA have closely o#$ed ith thei# Indian counte#!a#ts !ut togethe#

the latest advances in manufactu#ing and !lant enginee#ing. It is also having the facility fo#

!#oducing !lastic com!onents #e)ui#ed fo# automotive %atte#ies.

CA)ACIT(:

The ca!acity !e# the yea# =BB@=BB of I4D is :"


18/108


CUSTOMERS:

AR4+ has !#estigious OE 6O#iginal E)ui!ment anufactu#e#9 clients li$e FORD"

/E>ERA+ OTORS"

DAE1OD OTORS"

ERCEDS 4EN"

DAI++ER"

ARUT>I UDLO/E +TD."

,#emie# auto +td" and

Recent ac)ui#ed a !#efe#ence su!!lie# alliance ith AS>OJ +EL+AND"

>INDUSTAN OTORS" TE+CO" A>INDRA A>INDRA and S1ARA

AAD.

COM)ETITORS:

The ma'o# com!etito#s fo# Ama#a#a'a %atte#ies !#oducts a#e*

o E(ide Indust#ies +td

o >yde#a%ad 4atte#ies +td

o /N4 Indust#ies 6US %ased9

)RODUCTS:

Ty!e of -R+A %atte#ies manufactu#ed in I4D is*

,O1ERSTACJ

JO4AT6U,S 4atte#y9

4RUTE



19/108


/EN,RO

FEATURES 8 -ENEFITS OF T+E )RODUCT:

A%so#%ed Elect#olyte @safe" no fee acid

const#uction @s!ells !#oof and lea$

O(ygen #ecom%ination cycle @no e(te#nal gassing

Resealing safety value @e(!losion !#oof and

,#essu#e #egulated

Co!!e# co#e te#minal @ im!#oved connection

S!ecial hy%#id alloy @ Dee! cycle ca!a%ility

Facto#y cha#ged @ Ready to use

)RODUCT )ROFILE

-R+A %atte#ies manufactu#ed in the indust#ial %atte#y division and thei# a!!lications

a#e as follos*

)O,ER STAC:



20/108


A;;!ica#i"ns: ,oe# !lants" !#ocess and se#vice indust#y" Railays"

Telecommunication" Uninte##u!ta%le !oe# su!!ly 6U,S9 systems" elect#onic !#ivate

automatic %#anch e(change 6E,A4K9 " Defence 6Onsho#e Off sha#e i#eless

communication cellula# #adios9" otive !oe#.

OM-AT /U)S -ATTER(0:

A;;!ica#i"ns: U)S" E,4K" Engine sta#ting" eme#gency lighting" S,-" !o#ta%le

!oe#" secu#ity systems

-RUTE:A;;!ica#i"ns:Fo#$lifts" !ellet t#uc$" stac$e#s" ;!latfo#ms t#uc$s.

)RODUCTION FACILITIES:

Du#ing the yea# unde# #evie AR4+ has !#io#ities and di#ected its o%'ectives toa#ds

st#eamlining the !#oduction !#ocess %y assimilating and synch#oni&ing ca!acities of diffe#ent

section of !lant to o!timi&e the ca!acity utili&ation. As a !a#t of this !#og#ahhe" AR4+ has

!#o!osed to inc#ease the ca!acity of assem%ly and fo#mation section. The #easons fo# the

ca!acity a#e as follo*

E


21/108


)RODUCT )ROFILE



22/108



S.NO ,RODUCT NAE FEATURES A,,+ICATIONS

7 AARON >AR-EST

>igh !e#fo#mance" Totally

maintenance f#ee" >igh

!oe# cha#ge acce!tance

Fo# T#acto#s

= AARON S>IE+D

Ready to fit" long life lo

maintenance >ighe#

c#an$ing !oe#

Fo# Inve#te#s

:AARON >I@+IFE

4ATTERIES

+ong life maintenance f#ee"

fully scaled and tested No

lea$ageHim!#oved safety

Ca#s" Utility

-ehicles" T#acto#s"

1heele#s" >C-0s

/enets +C-0s

JO4AT

>igh discha#ge" >igh

!e#fo#mance %atte#ies

hich a#e com!act light

eight facto#y cha#ge"

e(!losion #esistant and

envi#onmental f#iendly

U,S" E,4K" Engine

sta#ting" Eme#gency

lighting" S,4"

!o#ta%le !oe#" Fi#e

ala#m secu#ity

systems.

AARA

RAA6,O1ER

STACJ9INDUSTRIES

+ight eight" study

eathe# !#oof and long

lasting" >igh integ#ity"

>igh ene#gy density.

Indust#ial

a!!lications" ,oe#

!lants" Railays"

Telecommunications"

!#ocess and se#vice

Indust#y" Defense"

otive" ,oe# sola#

,hoto voltaic"

Elect#ic vehicle"

Eme#gency lighting.

AARA RAA

/EN,RO

e#o maintenance" No

s!ecific g#avity chec$s" No

ate# ta!!ing u! #e)ui#ed

long life" ideal si&e facto#y

cha#ged" the#efo#e #eady to

use assu#ed sta#ting and

se#vice.

Fo# /ene#ato#s

I@1AL

4ATTEIRS

+ong life" Ult#a lo

maintenance #eady to fit"

>ighe# c#an$ing !oe#.

Fo# T#uc$s

; MUANTA @@ U!s 4atte#ies


23/108


LOCATION OF AR-L



24/108


+IERARC+(


M.D

Vice-President-

Finance

AGM-

Financial

AGM-

Secretaria

l

Manager

MIS

Sr. Manager

asr!

Manager

Commercial

Asst.

Manager

Sr. Ofcer Ofcer Ac

recei!a"le

Manager

g

Sr. Ofcer

Co#

Or$inato

r

Co#

Or$inato

r

Co#

Or$inator

Co#

or$inator

Co#

Or$inator

Co#

Or$inator


25/108


)ROS)ECTUS OF MF1*RLA -ATTERIES IN INDUSTRIAL -ATTER(:

The !#os!ectus of F@-R+A %atte#ies technology and the demand fo# -R+A %atte#ies in

va#ious segments in estimated %ased on the folloing*

Ent#y of multinationals in telecom secto#.

Data !olicy decision to u!g#ade the ove#all technology %ase.

Const#aint in use of conventional %atte#y in #adio !aging cellula# segments

Sitch ove# #ailays to aintenance F#ee ? -alue Regulated fo# +ead Acid 6F@

-R+A9 fo# coach ai# conditioning to 7BBlevel and the e(!ected g#adual shift fo#

a!!lication li$e T+" ST and #ailay elect#icians.

Technology u! g#aduation and !#ivati&ation of the !oe# segment.

St#ong !e#fo#mance toa#ds -R+A in the office automation indust#y 6U,S and

E,A4K a!!lication due to use# f#iendly and com!act featu#es9.

)RODUCTION FACILITIES CA)ACIT( E


26/108


RESEARC+ 8 DE*ELO)MENT:

S!ecific a#eas in hich the com!any ca##ies out R D.

Ne !#oduct develo!ment.

,#ocess technology u! g#aduation.

A!!lication enginee#ing fo# ne ma#$et !lace.

Muality im!#ovements.

FUTURE )LAN ACTION:

Comme#ciali&ation of moto#@cycle %atte#ies.

Develo!ment of ne #ange high integ#ity -R+A cell design.

Esta%lishment of !#oducts fo# ne a!!lication segment.

Studies on !aste additives to enhance the %atte#y !e#fo#mance.

In@de!th evaluation of metal su#face t#eatment chemicals to #educe the !#ocess cycle

time.

MA2OR USERS:

A. RAIL,A(S:

T#ain lighting" ai# conditioning" diesel engine sta#ting" signaling systems"

cont#ol systems" eme#gency %#ea$ing systems and telecommunications.

-. TELECOMMUNICATION:Cent#al office !oe# !lants" mic#oave #e!eate#s station" RAK in !u%lic %uilding"eme#gency lighting systems at ai# !o#ts" fi#e ala#amsystem etc.

C. )O,ER S(STEMS:

Sitch gea# cont#ol systems" !oe# hose cont#ol systems" #u#al st#eet lighting etc.D. U)S S(STEMS:

4ac$u! !oe# to com!ute#s in !#og#ess cont#ol system in indust#y etc."E. TRACTION:

Fo#$lift t#uc$s" ea#th motioning machine#y" mining locomotives and #oad vehiclesEtc.

F. )ETROC+EMICALS:

Off@sho#e and On@sho#e !ill e(!lo#ation lighting systems" secu#ity systems etc.G. DEFENCE:



27/108


Defense communication" ai#c#aft and helico!te# g#ound sta#ting" stationa#y and

mo%ile diesel engine sta#ting etc.

FLO, C+ART -ATTERIES )ROCESS FLO,

-OARD OF DIRECTORS:

The com!any has a non@e(ecutive chai#man and the num%e# of inde!endent di#ecto#s

is : #e!#esenting ::.:: of the total num%e# of di#ecto#s i.e. mo#e than one@thi#d of the total

num%e# of di#ecto#s. The num%e# of the total non@e(ecutive di#ecto#s a#e ; i.e. ;;.;8 hich

is mo#e than B of the total num%e# of di#ecto#s. >ence the %oa#d of the com!any has an


C"n#erting

$re Lead

int" Lead

O%ide

Paste &i%ing '!

Adding

sl$(ric Acid

and )ater

Gird

Casting

Pasting Gird

)it( Lead

O%ide Paste

*inding t(e

$asted Grid

)it(

Se$arat"r

Gr"$

Sealing t(e +ar

F"r&ati"n

Finis(ing


28/108


o!timum com%ination of e(ecutive and non@e(ecutive di#ecto#s in confo#mity ith the

!#ovisions clause 8 of the listing ag#eement.

None of the mem%e#s of the %oa#d is holding mem%e#shi! in mo#e than 7B committees

o# chai#manshi! in mo#e than committees as s!ecified in clause 8 of the listing ag#eement.

The com!osition and catego#y of the %oa#d of di#ecto#s as at a#ch :7" =BB; and the

num%e# of othe# di#ecto#shi!sHcommittee mem%e#shi!s held %y them a#e as unde#*

S.n". Na%e "= #e Direc#"r Ca#e>"ry

7. D#. Rama Chand#a N /alla ,#omote#HNon@e(ecutive chai#man

=. #. ayadev /alla ,#omote#Hanaging Di#ecto#

:. D#. /.Ramadevi ,#omote#HNon@e(ecutive Di#ecto#

. #. F#an$ E J#aic$ Non@E(ecutive Di#ecto#

. #. Raymond 4#on Non@E(ecutive Di#ecto#

. #. Shu Ming Lang Non@E(ecutive Di#ecto#


29/108


a#$eting Offices Se#vices Cente#s @ 4angalo#e" um%ai" Jol$ata" Ne Delhi"

>yde#a%ad and Chennai

SELLING )OLIC(:1

The Com!any is ado!ting the !olicy of di#ect selling ithout any inte#mediates

as the !#oduct falls unde# the catego#y of Ca!ital /oods. The Com!any esta%lished it0s

%ased and in ma'o# cities li$e um%ai" Calcutta" Ne Delhi" yso#e" 4angalo#e and

>yde#a%ad. All these units a#e fully e)ui!!ed ith e(!e#ienced staff and inf#ast#uctu#e.

AR,S has also idened se#vices neto#$. As a mem%e# of Ama#a Ra'a 4atte#ies

automotive %#anch0s facilities fo# se#vice !oints to se#ve the need of its clientele %ette#.

)RODUCT LINE:1

Conventional 4atte#ies Cha#ges * U! to ==B- H BB A = - H=BBB A.

Sitch ode ,oe# Su!!ly 6S,S9 * odules of ; -H=A u! to =BBA and

;-H7BBA u! to :=BBA Integ#ated ,oe# Su!!ly 6I,S9 Systems S!ecially.

Designed fo# Railay Signaling Telecommunications.

DCHAC Dist#i%ution 4oa#ds.

AMARA RA2A -ATTER( )RODUCTS:

,oe# stac$s 6gene#al !u#!ose %atte#y9 * BA> to BBBA>.

4#ute 6otive ,oe# 4atte#y9 * BA> to 7BBA>.

Com%at 6U,S %atte#y9 * BA> to ;B A>.

Diagnostic Tools

4eta Chec$ 6>ealth onito#9 * 7BBA :BBA.

EN*IRONMENTAL )ROGRAMS:1

Advancement fo# ISO@BB7 Ce#tification.

>ealth monito#ing and aa#eness ,#og#amme.



30/108


4oth !e#sonal and Indust#ial Safety ,#og#amme.

Sta#t u! of ES im!lementation ,#og#amme.

Nil discha#ge and loest emission aa#eness and im!lementation ,#og#amme.

1aste Reduction Scheme.

Ene#gy Conse#vation ,#og#amme.

Continuous and massive g#een%elt develo!ment ,#og#amme.

/#ound 1aste Collection" T#eatment" Sto#age and Safe Dis!osal ,#og#ammed.

Cent#al 1aste Collection" T#eatment" Sto#age and Safe Dis!osal ,#og#amme.

,e#sonal health Safe /ua#ding ,#og#amme.

SOCIAL )ROGRAMS:1

>ousing Colony to the Em!loyees is in ,#og#ess.

Total ,lan BB families ove# five yea#s" 7B; al#eady commissioned.

,lant !#ovide Community >all O!en Audito#ium" Rec#eation clu%"

,a#$ and !lay /#ound.

T#aining Cent#e fo# Em!loyees.

4achelo#0s hostel" Co@o!e#ative Sto#e and 4an$s in O!e#ation.

Roads" 1ate# Su!!ly" St#eet +ights" /#eene#y" Educational and Cultu#al Activities.

Enhancement in neigh%o#ing villages.

Aa#ds and Rea#ds to the Lounge# /ene#ation fo# im!#ovement of education

ode#ni&ation of ,u%lic ,a#$s fo# the fledged of Child#en.

AMARA RA2A GROU) OF COM)ANIES:

7. Ama#a Ra'a 4atte#ies +imited 6AR4+9.

=. Ama#a Ra'a ,oe# Systems +imited 6AR,S+ 9

:. angal ,#ecision. +td." 679

. angal ,#ecision.+td. 6=9.

. Ama#a Ra'a Elect#o Systems +td.

. /alla Foods +td.

+ISTOR( OF T+E ORGANISATION:



31/108


DEC 78; @Foundation stone laid fo# Ama#a #a'a.

AL 788= @Designed and im!lemented the most advanced %atte#y manufactu#ingfacility in India.

FE4 788< @Received the ISO 8BB7 ce#tification.

DEC 788< @Commissioned on !lastics and tool #oom sections.

Signed oint -entu#e ith ohnson cont#ols.

AL 7888@Received MS 8BBB ce#tification.

AN =BBB@ +aunched Ama#on %atte#ies.

A!#il =BB7@+aunched the ne co#!o#ate logo.Se! =BB7@Aa#ded the ISO 7BB7

ce#tification

Ne co#!o#ate logo launched.

ay =BB=@commissioned !hase7 of ne automotive %atte#y !lant ith a ca!acity of =

million %atte#ies.

U+ =BB=@+aunched Muanta U,S %atte#ies.

AU/ =BB=@+aunched Ama#on >iay and >a#vest %atte#ies.

AR =BB@Received Fo#d 1o#ld E(cellence Aa#d.

SE, =BB@+aunched Ama#on ,RO"/O and FRES> automotive %atte#ies

OCT =BB@OE ag#eement ith a#uthi Udyog +td.

UN =BB@OE ag#eement ith >yundai oto#s.

AU/ =BB@NJ se#ies limited edition %atte#ies launch.

DEC =BB


32/108


NEED OF T+E STUD(

The %asic need of the study is to lea#n a%out the insu#ance and the conce!ts of the

insu#ance .this study has made to lea#n a%out the insu#ance !olicies too$ %y the com!anies to

!#otect themselves and to #educe the #is$. Th#ough this study e can #educe insu#ance

!#emium cost and insu#ance claims %ased ma#ine insu#ance and health insu#ance.

,eo!le gene#ally #ega#d insu#ance as a scheme hen and he#e you have to lose a lot

to gain a little. Neve# the less" insu#ance is still the most #elia%le tool an individual can use to

!lan fo# his futu#e.

The chances fo# a facility o# an in'u#y to occu# to the ave#age individual may not %e

!a#ticula#ly high %ut then no one can #eally affo#d to com!leting dis#ega#d his o# he# futu#e

and hat it holds.



33/108


O-2ECTI*ES OF T+E STUD(

The main o%'ective of the study is to #educe the insu#ance cost 6ma#ine and health

insu#ance9 %y analy&ing claims.

To study the insu#ance !olicies is conce#n.

To #emove unanted !olicies hich eat mo#e money and did not cove# #is$

To advice those !olicies hich cove# mo#e #is$ and less !#emium

To !#e!a#e tailo# made !olicy ith s!ecial !e#ils and g#ou! mode

To #educe the insu#ance claims and to #educe the health insu#ance cost

To #educe the !#emium cost

+ife insu#ance can %e a!!lied to !ay off you# mo#tgages" c#edit ca#d de%ts o# any othe# of

de%ts.



34/108


SCO)E OF T+E STUD(:

The study as conducted in Ama#a Ra'a 4atte#ies +td" Ti#u!athi and it cove#s the

insu#ance !olicies too$ %y the com!any. The g#oth of com!any !#oductions and #e)ui#ements

ill leads to the additional !olicies. This study is contained to analy&ing the !#emiums !aid to

insu#ance com!anies" claims #aised unde# ma#ine and health insu#ance of !ast financial yea#s"

and analy&ing the t#ans!o#tation claims.



35/108


LIMITATIONS OF T+E STUD(

+oss" damage o# lia%ility due to !ollution is #est#icted to a sudden and accidental

ha!!ening.

Confede#ation of autho#ities

1a#" invasion" act of fo#eign enemy" hostilities" civil a#" #e%ellion" #evolution"

insu##ection" milita#y o# !oe#" looting" sac$ing o# !illaging.

Indust#ial dis!utes o# deli%e#ate acts.

To the e(tent he#e #eim%u#sement is availa%le f#om any othe# sou#ce" e.g.insu#ence

o!e#ations o# gua#antees.

Illegal o!e#ations o# activities.

Dest#uction" co##u!tion o# e#asu#e of elect#onic data is limited to 7Bm collectively fo#

all !a#tici!ating mem%e#s of Ris$ Cove# and in the agg#egate any one !e#iod of cove#.



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RESEARC+ MET+ODOLOG(:

Resea#ch methodology is a ay to systematically solve the #esea#ch !#o%lem. It may

%e as a science of studying ho #esea#ch is done identifia%ly. In it e study the va#ious ste!s

that a#e gene#ally ado!ted %y a #esea#ch in studying hi #esea#ch !#o%lem %ehind them.

Da#a c"!!ec#i"n a;;r"ac: The study ith de!ending u! on the !#ima#y data and as ell

as seconda#y data.

)ri%ary da#a s"urce: Su!e#io# em!loyees and othe# office staff gave the data and also

collected the data f#om %oo$s.

Sec"ndary da#a S"urce: ,olicy documents of va#ious insu#ance com!anies made %y the

AR4+ a#e f#om Seconda#y sou#ce li$e 4oo$s" ou#nal" Com!any and Inte#net.

7. Used the Sim!le 4a# cha#ts and !ie cha#ts fo# easily analysis of the data

=. Used the Sum fo#mulas fo# calculations

The seconda#y data collected f#om the financial #e!o#ts" !#evious #e!o#ts" !u%lished#eco#ds and othe# statements !#ovided %y finance de!a#tment of AMARA RA2A

-ATTERIES )*T LTD.

S#a#is#ica! #""!s used:

,e#centage Analysis and Facto# analysis

DATA COLLECTION:

Seconda#y data is a al#eady sto#age info#mation

Ta$en f#om com!any annual #e!o#ts

Info#mation ta$en f#om 'ou#nals" %oo$s and inte#net.

DATA ANAL(SIS:

o Lea# ise com!a#ison of !#emiums

o Lea# ise com!a#ison of claims



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,+AT IS INSURANCE?

Insu#ance is a fo#m of #is$ management !#ima#ily used to hedge against the #is$ of a

contingent" unce#tainty loss. Insu#ance is defined as the e)uita%le t#ansfe# of the #is$ of a loss" f#om

one entity to anothe#" in e(change fo# !ayment. An insu#e# is a com!any selling the insu#ance5 the

insu#ed" o# !olicyholde#" is the !e#son o# entity %uying the insu#ance !olicy. The amount to %e

cha#ged fo# a ce#tain amount of insu#ance cove#age is called the !#emium .Ris$ management the

!#actice of a!!#aising and cont#olling #is$" has evolved as a disc#ete field of study and !#actice.

The t#ansaction involves the insu#ed assuming a gua#anteed and $non #elatively small loss

in the fo#m of !ayment to the insu#e# in e(change fo# the insu#e#Ps !#omise to com!ensate

6indemnity9 the insu#ed in the case of a financial 6!e#sonal9 loss. The insu#ed #eceives a cont#act

called the insu#ance !olicy hich details the conditions and ci#cumstances unde# hich the insu#ed

ill %e financially com!ensated.

NATURE OF INSURANCE:

On the %asis of the definition of insu#ance discussed a%ove" one can o%se#ve its folloing

cha#acte#istics*

RIS S+ARING AND RIS TRANSFER

Insu#ance is a mechanism ado!ted to sha#e the financial losses that might occu# to an

individual o# his family on the ha!!ening of a s!ecified event. The event may %e death of

ea#ning mem%e# of the family in the case of life insu#ance" ma#ine@!e#ils in ma#ine insu#ance"

fi#e in fi#e insu#ance and othe# ce#tain events in miscellaneous insu#ance" e.g." theft in %u#gla#y

insu#ance" accident in moto# insu#ance" etc. The loss a#ising f#om these events a#e sha#ed %y

all the insu#ed in the fo#m of !#emium. >ence" #is$ is t#ansfe##ed f#om one individual to a

g#ou!.

CO1O)ERATI*E DE*ICE:

Insu#ance is a coo!e#ative device unde# hich a g#ou! of !e#son ho ag#ee to sha#e

the financial loss may %e %#ought togethe# volunta#ily o# th#ough !u%licity o# th#ough



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solicitations of the agents. An insu#e# ould %e una%le to com!ensate all the losses f#om his

on ca!ital. So" %y insu#ing a la#ge num%e# of !e#sons" he is a%le to !ay the amount of loss.

T()ES OF INSURANCE:

Insu#ance occu!ies an im!o#tant !lace in the mode#n o#ld %ecause the #is$ " hich

can %e insu#ed" have inc#eased in num%e# and e(tent oing to the g#oing com!le(ity of the

!#esent day economic system. It !lays a vital #ole in the life of eve#y citi&en and has

develo!ed on an eno#mous scale leading to the evolution of many diffe#ent ty!es of insu#ance.

In fact" no a day almost any #is$ can %e made the su%'ect matte# of cont#act of insu#ance.

The diffe#ent ty!es of insu#ance have come a%out %y !#actice ithin insu#ance com!anies" and

%y the influence of legislation cont#olling the t#ansacting of insu#ance %usiness.

4#oadly" insu#ance may %e classified into the folloing catego#ies*

/30 CLASSIFICATION ON T+E -ASIS OF NATURE OF INSURANCE:

6a9 +ife Insu#ance

6%9 Fi#e Insu#ance

6c9 a#ine Insu#ance

6d9 Social Insu#ance

6e9 iscellaneous Insu#ance

/40 CLASSIFICATION FROM -USINESS )OINT OF *IE,:

6a9 +ife Insu#ance

6%9 /ene#al Insu#ance

/50 CLASSIFICATION FROM RIS )OINT OF *IE,:

6a9 ,e#sonal Insu#ance

6%9 ,#o!e#ty Insu#ance

6c9 +ia%ility Insu#ance

6d9 Fidelity /ua#antee Insu#ance



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T()ES OF INSURANCES:

FIRE 8 ALLIED )ERILS:

4usinesses a#e !#one to unfo#eseen losses. These losses can lead a flou#ishing %usiness

into disaste# due to the loss of !#o!e#ty" stoc$s" machine#y" tools and facilities" ultimately

i!ing out the ca!ital and causing conse)uential losses. oneta#y #elief is essential in #e@

%uilding H #esto#ing the damaged !#o!e#ty. Fi#e insu#ance cove# !lays a vital #ole in

safegua#ding the financial inte#ests of an ente#!#ise. Cove#s The fi#e insu#ance !olicy cove#s

immova%le and mova%le !#o!e#ty5 %uildings" !lant and machine#y" fu#nitu#e" fi(tu#es" fittings"

contents" stoc$s H stoc$ in !#ocess" #a mate#ial" goods held in t#ust o# in commission"

including stoc$s at su!!lie#s H custome#Ps !#emises" machine#y tem!o#a#ily #emoved f#om the

!#emises fo# #e!ai#s due to loss o# damage %y fi#e o# due to any of the !e#ils mentioned

he#eunde#. Q +ightning. Q E(!losion H im!losion. Q Ai#c#aft and a#ticles d#o!!ed the#e f#om. Q

Im!act damage due to #ailH#oad o# animal. Q Riot st#i$e" malicious damage. Q Su%sidence and

land slide. Q Sto#m" cyclone" flood and inundation. Q S!#in$le# lea$age. Q Ove#flo" lea$age of

ate# tan$s" !i!es" etc. In the case of a !a#tial loss" !ayments fo# #e!ai#s o# #e!lacement a#e

made. In case of a !olicy ith a #einstatement value clause" the cost of #einstatement ill %e

!aid on com!letion of #einstatement" su%'ect to an ove#all limit of the sum insu#ed. The

insu#ance com!any" at its disc#etion" may #e!ai# o# #e!lace the affected !#o!e#ty instead of

!aying fo# the cost of #esto#ation. ,#emiums a#e %ased on the ty!e of occu!ancy" !hysical

featu#es" value at #is$" #e)ui#ement of additional cove#s info#mation !#ovided on a

com!leted !#o!osal fo#m. The#e a#e a num%e# of e(ce!tions and e(clusions" hich a#e !a#t of

the !olicy te#ms conditions.

)RO)ERT( ALL RIS:

This ,olicy indemnifies against the accidental !hysical loss o# damage to the ,#o!e#ty

Insu#ed desc#i%ed in the !olicy. It includes loss o# damage due to fi#e" lightning" ai#c#aft"

e(!losion" ea#th)ua$e" st#i$e" #iot" civil commotion" malicious damage" sto#m" tem!est" flood"

%u#sting and o# ove#floing of ate# tan$s" !i!es and a!!a#atus6including s!#in$le# lea$age9"



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im!act %y on vehicles " theft o# attem!ted theft 6%y violent and fo#ci%le ent#y to o# e(it f#om

the !#emises9 and accidental loss o# damage. The sum insu#ed can eithe# %e on the %asis of the

actual value o# the ne #e!lacement value of the !#o!e#ty" %ut should %e ade)uate to cove# the

total e(!osu#e. The insu#ed can !#ovide the sum insu#ed" o# may see$ the Assistance of ou#

technical staff to dete#mine the ade)uacy. ,#emiums a#e %ased on the ty!e of occu!ancy"

!hysical featu#es" values at #is$" #e)ui#ement of additional cove#s. The#e is a deducti%le fo#

each and eve#y loss unde# the !olicy and cove#age is su%'ect to e(ce!tions and e(clusions"

hich fo#m !a#t of the !olicy te#ms and conditions.

MONE( INSURANCE:

oney is alays susce!ti%le to misha!s such as %u#gla#y and the li$e. To !#otect

against this #is$" 2oney Insu#ance Cove#3 may %e !u#chased. oney shall mean cash" notes"

che)ues" secu#ities" stam!s and the li$e. This cove# is availa%le against #is$s hilst5 In t#ansit

f#om !#emises to %an$ and vice ve#sa. In a safe" in office !#emises. Out of the safe du#ing

o#$ing hou#s. In a 4an$s0 safe. In the ca#e custody of com!any0s designated staff. Othe#

E(tensions incidental to oney Insu#ance can also %e !#ovided. These can %e tailo# made to

the e(act #e)ui#ements of the custome#. In g#anting the 2oney Insu#ance Cove#3" the

folloing facto#s a#e ta$en into conside#ation* Estimated annual ca##ying a(imum limit fo#

any one ca##ying a(imum limit fo# safe@$ee!ing at any given time. The !#emiums a#e

calculated on the estimated annual ca##yings and amount of money in the safe o# on the

!#emises. Fu#the#mo#e the !#emiums a#e %ased on the natu#e of the %usiness" location and the

secu#ity measu#es in !lace. Fo# a tho#ough unde#standing of the !#oduct" !lease #efe# to ou#

standa#d !olicy te#ms and conditions. E(clusions unde# the !olicy a#e5 Theft %y on

em!loyee. oney out of safe. +oss of !#emises folloing use of $ey" unless" $ey is o%tained

violent %ehavio# of th#eats.

,ORMAN@S COM)ENSATION:

1o#$e#s in any o#gani&ation a#e e(!osed to o#$ #elated accidents and a#e the#efo#e

ell !#otected unde# the UAE Fede#al +a No.; of 78;B and su%se)uent amendments the#eto.

The Fede#al +a of UAE ma$es it mandato#y fo# the em!loye#s to !ay com!ensation to the

em!loyee6s9 due to an accident a#ising out of and in the cou#se of thei# em!loyment.1o#$menPs Com!ensation ,olicy indemnifies the em!loye# against all sums !aya%le unde# the



41/108


U.A.E. Fede#al +a No. ; of 78;B and su%se)uent amendments to !ay com!ensation to any

em!loyee due to accident a#ising out of and in the cou#se of em!loyment. The E(tensions

availa%le to this insu#ance a#e5 edical E(!enses* edical e(!enses %enefit fo# o#$ #elated

accidents fo# u! to AED 7B"BBBH@ !e# !e#son" su%'ect to the t#eatment %eing confined to

/ove#nment hos!italHclinics. 6>ighe# limits and !#ivate hos!itals H clinics can %e o!ted at e(t#a

!#emium9 E(!enses fo# Re!at#iation* Re!at#iation e(!enses fo# t#ans!o#ting the deceased

%ody folloing a o#$ #elated accident u! to AED "BBBH@ !e# !e#son. 6>ighe# limits can %e

conside#ed at an e(t#a !#emium9 Em!loye#Ps +ia%ility* U! to AED 7"BBB"BBBH@Any One

Accident Ho# in the annual agg#egate. The !#emium #ate is a!!lica%le on the Estimated

Annual Ea#nings of the em!loyees hich is ad'usta%le at the end of the !olicy !e#iod %ased on

the actual annual ea#nings. The !#emium cha#gea%le de!ends on the natu#e of o#$" #is$

involved fo# the cove#He(tensions to the !olicy.

FIDELIT( GUARANTEE:

Des!ite the %est inte#nal cont#ol measu#es in any co#!o#ate activity" misha!s li$e

misa!!#o!#iation and em%e&&lements %y em!loyees do ta$e !lace. Fidelity /ua#antee

Insu#ance ,olicy !#otects em!loye#s against such e(!osu#es. Em!loye#s should conside# the

folloing !oints hile o!ting fo# Fidelity /ua#antee Insu#ance. Num%e# of em!loyees

handling cash" valua%les o# stoc$s %onds. +imits of e(!osu#es. Em!loyees status and

c#edi%ility the !olicy cove#s any loss caused due to any act6s9 of Fo#ge#y o# em%e&&lement"

la#ceny Ho# f#audulent act committed %y an em!loyee in the cou#se of thei# duties. The

!#emiums a#e calculated on the %asis of agg#egate limit of indemnity in addition to !e# ca!ita

!#emium.

LIA-ILIT( EM)LO(ERS:

Insu#ance as an e(tension to the 1o#$men0s Com!ensation Insu#ance" it can hoeve#"

%e issued as a stand@alone !olicy as !e# the #e)ui#ements of the custome#. Em!loye#0s

+ia%ility Insu#ance indemnifies em!loye#s to !ay com!ensation hich they a#e legally

#e)ui#ed to !ay unde# the Common +a fo# !e#sonal in'u#y o# death %y accident a#ising out of

and in the cou#se of the em!loyment. The ,olicy also !ays fo# all costs and e(!enses incu##ed

in defending any claim fo# com!ensation" %ut ith the !#io# consent of the com!any. Thema(imum limit of lia%ility g#anted is AED 7"BBB"BBBH@ on any one occu##ence in the



42/108


agg#egate" %ut limited to AED =BB"BBBH@ !e# !e#son !e# accident" including all costs and

e(!enses du#ing the !e#iod of insu#ance. The indemnity !#ovided as com!ensation fo#

damages and costs e(!enses of litigation shall %e as !e# UAE la and the 'u#isdiction is

United A#a% Emi#ates. The !#emium #ate is a!!lied on the +imit of Indemnity. The !#emium

#ate de!ends on the natu#e of o#$ and the #is$ involved.

LIA-ILIT( )U-LIC:

The cove# suits all the ent#e!#eneu#s e(!osed to lia%ility due to negligence a#ising out

of accidents du#ing the cou#se of thei# %usiness o!e#ations. Salient Featu#es This !olicy

indemnifies against the amount the insu#ed is legally lia%le to !ay as damages to thethi#d !a#ty victims. These may %e5 Com!ensation fo# accidental death" %odily in'u#y o# disease

to thi#d !a#ties. Damage to o# loss of !#o!e#ty %elonging to thi#d !a#ties a#ising out of an

accident" including legal costs incu##ed ith the !#io# consent of the insu#e#. +egal and civil

lia%ilities of the di#ecto#s and office#s of the com!any. E(tensions fo# !ollution and

t#ans!o#tation #is$s can %e conside#ed as !e# the #e)ui#ements of custome#s at additional #ates"

te#ms and conditions. ,#emium #ates de!end u!on the ty!e of #is$ %ased on ha&a#d g#ou!s

classified" the limit of lia%ility" the annual antici!ated tu#nove# and the natu#e H sco!e of

se#vices !#ovided. As the !#evailing !u%lic la is st#ingent and the cou#ts a#e aa#ding huge

sums a#ising out of lia%ilities" it is !#udent to ta$e such an insu#ance cove# even in cases he#e

it is not mandato#y.

ERECTION ALL RIS:

E#ection All Ris$s Insu#ance EAR !#otects the inte#ests of !#inci!als and cont#acto#s

involved in e#ection of ,lants" achine#y" >eavy E)ui!ments etc" against thei# e(!osu#e to

loss" damage o# lia%ility %y va#ious e(te#nal and inte#nal causes du#ing the cou#se of e#ection.

Cove#* Section@7 ,hysical +oss o# Damage* This Section !#ovides cove#age fo# losses and H o#

damages to mate#ials and e#ection o#$s oned %y !#inci!als and cont#acto#s H su%cont#acto#s

against5 Accidental damage du#ing const#uction. Fi#e" lightning. 1ate# damage" flood" sto#m

and tem!est. Colla!se" collision" im!act" %u#gla#y" theft and malicious damage" ai#c#aft.

4#ea$don o# e(!losion to any !a#t of the cont#act. Conse)uent damages due to defects in

mate#ial casting" o#$manshi! design. Riot" st#i$e" su%sidence" landslide" cyclone"hu##icane" ea#th)ua$e" and volcanic e#u!tions. Section@ = Thi#d ,a#ty +egal +ia%ility* This



43/108


section !#ovides indemnity to the thi#d !a#ty due to the +egal lia%ility of the insu#ed 6su%'ect

to the limits unde# the !olicy9 #esulting f#om negligence of the insu#ed o# his em!loyees

causing5 Accidental %odily in'u#y Ho# death to thi#d !a#ties 6Not mem%e#s of the insu#edPs

family o# thei# em!loyees9" Accidental damage to !#o!e#ty 6e(cluding !#o!e#ty %elonging to o#

in the custody o# unde# the cont#ol of the Insu#ed" his family mem%e#s o# his em!loyees9" and

+egal e(!enses fo# defending any !#oceedings ith Insu#e#Ps consent. aintenance ,e#iod

RisBs:Afte# the E#ection o#$s" including testing and commissioning" cove#ed unde# the EAR

!olicy has %een com!leted" maintenance !e#iod cove# comes to effect. Du#ing This !e#iod the

cove# is against any loss Ho# damage that occu#s in the cou#se of the com!liance ith the

maintenance o%ligation unde# the cont#act. The !#emium is calculated on the total e#ection

value of the cont#act and is %ased on facto#s such as du#ation of cont#act" natu#e" location of

!#o'ect site" !e#iod of e#ection" e(!e#ience of the e#ecto#s etc.

CONTRACTOR ALL RIS:

Cont#acto#sP All Ris$s Insu#ance CAR !#otects the inte#ests of cont#acto#s involved in

civil" mechanical o# elect#ical cont#acts li$e const#uction of %uildings" %#idges" dams" toe#s

etc" against thei# e(!osu#e to loss" damage o# lia%ility %y a va#iety of e(te#nal and inte#nal

causes du#ing the cou#se of const#uction. Section 7* ,hysical +oss o# Damage* This section

!#ovides cove#age fo# losses on mate#ials and cont#act o#$s f#om a va#iety of #is$s such as5

Accidental damage du#ing const#uction Fi#e" lightning 1ate# damage" flood" sto#m and

tem!est Colla!se" collision" im!act" %u#gla#y" theft and malicious damage" ai#c#aft 4#ea$don

o# e(!losion to any !a#t of the cont#act e.g. +ifts in %uildings etc. Conse)uent damages due to

defects in mate#ial casting" o#$manshi! and design Riot" st#i$e" su%sidence" landslide"

cyclone" hu##icane" ea#th)ua$e" volcanic e#u!tions. Section =* Thi#d ,a#ty +egal +ia%ility* This

section !#ovides indemnity to thi#d !a#ty due to the +egal lia%ility of the insu#ed #esulting

f#om negligence of the insu#ed u! to an ag#eed limit6s9 fo#5 Accidental %odily in'u#y Ho#

death to thi#d !a#ties Accidental damage to !#o!e#ty 6e(cluding !#o!e#ty %elonging to o# in the

custody o# unde# the cont#ol of the insu#ed" and legal e(!enses fo# defending any !#oceedings

ith com!any0s consent. aintenance Cove#* aintenance ,e#iod Cove# !#otects the insu#ed

against any loss Ho# damage that occu#s in the cou#se of the com!liance ith the

maintenance o%ligation unde# the cont#act" su%'ect to the cause of such loss o# damage having

o#iginated du#ing the !e#iod of insu#ance. The !#emium is calculated on the %asis of cont#act



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value" !e#iod of cont#act" value of Const#uction ,lant achine#y" natu#e and ty!e of !#o'ect"

!#evious loss histo#y of the cont#acto# and the e(!e#ience of the cont#acto#s in simila# ty!e of

!#o'ects.

INDI*IDUAL )ERSONAL ACCIDENT:

This cove# o!e#ates = hou#s and on a o#ldide %asis. It !#ovides fo# !ayment of

s!ecified ca!ital %enefits folloing accidental death" %odily in'u#y" !e#manent totaldisa%lement" and !e#manent !a#tial disa%lement" tem!o#a#y total and tem!o#a#y !a#tial

disa%lement caused %y an accident. In addition" the cove# also !#ovides #eim%u#sement of

eme#gency t#ans!o#tation to the nea#est hos!ital and also e(!enses incu##ed fo# !#e!a#ation

and #e!at#iation of the mo#tal #emains of the insu#ed !e#son f#om the !lace of death to the

count#y of #esidence. This cove# can also %e e(tended to cove# medical e(!enses. Cove#*

Accidental death* com!ensation is 7BB ca!ital sum insu#ed. ,e#manent total disa%ility*

com!ensation is 7BB ca!ital sum insu#ed. ,e#manent !a#tial disa%ility* com!ensation is as

!e# continental scale. Tem!o#a#y total disa%ility* com!ensation is calculated on the %asis of

sala#y ith a ma(imum of = ee$s. edical e(!enses* com!ensation u! to AED "BBBH@ !e#

!e#son !e# in'u#y. Re!at#iation e(!enses* com!ensation fo# t#ans!o#tation o# %u#ial u! to AED

"BBB !e# !e#son. ,#emiums a#e %ased on the sum insu#ed selected" age" natu#e of o#$" sala#y

levels and the o!tional %enefit selected.

GROU) )ERSONAL ACCIDENT:

This cove# o!e#ates = hou#s and on a o#ldide %asis. It !#ovides fo# !ayment of

s!ecified ca!ital %enefits folloing accidental death" %odily in'u#y" !e#manent total

disa%lement" and !e#manent !a#tial disa%lement" tem!o#a#y total and tem!o#a#y !a#tial

disa%lement caused %y an accident. In addition" the cove# also !#ovides #eim%u#sement of

eme#gency t#ans!o#tation to the nea#est hos!ital and also e(!enses incu##ed fo# !#e!a#ation

and #e!at#iation of the mo#tal #emains of the insu#ed !e#son f#om the !lace of death to the

count#y of #esidence. This cove# can also %e e(tended to cove# medical e(!enses. Cove#*Accidental death* com!ensation is 7BB ca!ital sum insu#ed. ,e#manent total disa%ility*



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com!ensation is 7BB ca!ital sum insu#ed. ,e#manent !a#tial disa%ility* com!ensation is as

!e# continental scale. Tem!o#a#y total disa%ility* com!ensation is calculated on the %asis of

sala#y ith a ma(imum of = ee$s. edical e(!enses* com!ensation u! to AED "BBBH@ !e#

!e#son !e# in'u#y. Re!at#iation e(!enses* com!ensation fo# t#ans!o#tation o# %u#ial u! to AED

"BBB !e# !e#son. ,#emiums a#e %ased on the sum insu#ed selected" age" natu#e of o#$" sala#y

levels and the o!tional %enefit selected.

+ULL 8 MAC+INER(:

Shi!@one#s H Shi! anage#s a#e e(!osed to va#ious ma#itime !e#ils and e !#ovidethe folloing cove#s #elated to it5 >ull achine#y Insu#ance Time -oyage. Collision

+ia%ility. ,#otection Indemnity Clauses ?>ulls. The Sum insu#ed is the value of the hull"

hich is #e)ui#ed to %e asce#tained and ag#eed u!on %y an inde!endent and )ualified a#ine

Su#veyo#. The facto#s to %e conside#ed to a##ive at the !#emium a#e %ased on the folloing.

Ty!e of >ull. Tonnage. Fleet o# singleton. T#ade of the vessel. One#shi! H management.

Classification. Flag #egist#y. -aluation of the vessel. ,ast loss histo#y. Insu#ance Conditions

offe#ed.

MARINE CARGO:

a#ine Ca#go insu#ance !#otects all goods hilst in t#ansit" de!ending u!on the needs

of the client. Th#ee %#oad ty!es of cove# a#e availa%le" i.e. Institute Ca#go Clauses A" 4

and C. The cove# ta$es ca#e of #is$s associated ith diffe#ent modes of t#ans!o#tation5

Cove#age may %e !#ovided fo# individual shi!ments o# unde# an ongoing cont#act $non as an

o!en !olicy. An o!en !olicy is a cont#act !#e!a#ed in gene#al te#ms cove#ing s!ecified goods

on te#ms ag#eed and can %e issued to cove# goods shi!!ed anyhe#e in the o#ld on a

decla#ation %asis. Cove#age can va#y as unde#" %ased on the natu#e and ty!e. All #is$s %y sea o#

ai# o# !a#cel !ost.. All #is$s land t#ansit. Rest#icted cove# %y sea" ai#" !a#cel !ost o# land. The

Sum Insu#ed is the ag#eed value" hich in most cases ill %e CIF andHo# CF !lus 7B o#

FO4 !lus 7B to =B. The facto#s ta$en into account fo# calculating the !#emiums de!end on

the natu#e and ty!e of ca#go" method of !ac$ing" mode of shi!ment" age and ty!e of vessel and

the !o#ts to %e used.

*E+ICLE E


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Unde# this !olicy the cove# is g#anted hilst the vehicles a#e %eing t#ansfe##ed f#om

one Emi#ate to anothe# ithin the UAE %y vi#tue of the E(!o#t ,late g#anted %y the conce#ned

T#affic De!a#tment fo# the same !u#!ose. The insu#ance cove# e(!i#es hen the vehicle is

#egiste#ed at a final destination o# e(!i#y of num%e# of days cove#ed" hich eve# shall occu#

fi#st.

MOTOR T+IRD )ART( LIA-ILIT(:

Unde# this !olicy the com!any unde#ta$es to com!ensate the insu#ed in the

event of an accident caused %y o# a#ising out of the use of the moto# vehicle su%'ect to thelimits s!ecified in this !olicy" against all sums hich the insu#ed shall %ecome legally lia%le to

!ay as com!ensation. Death o# %odily in'u#y to any !e#son including the !assenge#s in

the vehicles" e(ce!t the insu#ed o# the d#ive# at the time of the accident and thei# families

s!ouse" !a#ents and child#en and the em!loyees of the insu#ed if they a#e in'u#ed du#ing the

o#$ing hou#s o# as a #esult of thei# o#$. Damages fo# mate#ials and !#o!e#ty" e(ce!t those

oned %y the insu#ed o# the d#ive# at the time of the accident o# !#o!e#ty held in t#ust o# in

thei# custody o# cont#ol.

MOTOR COM)RE+ENSI*E:

Unde# the moto# insu#ance !olicy" the Com!any indemnifies the insu#ed as

unde#5 SECTION 7 The Com!any unde#ta$es to indemnify the insu#ed fo# loss of o# damage

to the insu#ed vehicle" its accesso#ies and s!a#e !a#ts hilst the#eon5 4y accident o# accidental

collision o# ove#tu#ning conse)uent u!on mechanical %#ea$don o# conse)uent u!on ea# and

tea#. 4y fi#e" e(te#nal e(!losion" self ignition" lightning o# thunde#%olt. 4y %u#gla#y o# theft.

4y malicious act of any thi#d !a#ty. 1hilst %eing in t#ansit 6including the !#ocess of loading

and unloading incidental to such t#ansit9 %y #oad" #ail" inland ate#ay" lift o# elevato#"

#elating to the said t#ans!o#tation. SECTION = against Thi#d ,a#ty +ia%ility. The com!any

shall com!ensate the insu#ed in the event of an accident caused %y o# a#ising out of the use of

the moto# vehicle" su%'ect to the limits s!ecified in this !olicy" against all sums hich the

insu#ed shall %ecome legally lia%le to !ay as com!ensation fo#. Death o# %odily in'u#y to any

!e#son including the !assenge#s in the vehicles e(ce!t the insu#ed o# the d#ive# at the time ofthe accident and thei# families s!ouse" !a#ents and child#en and the em!loyees of the insu#ed if



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they a#e in'u#ed du#ing the o#$ing hou#s o# as a #esult of thei# o#$. Damages fo# mate#ials

and !#o!e#ty" e(ce!t those oned %y the insu#ed o# the d#ive# at the time of the accident o#

!#o!e#ty held in t#ust o# in thei# custody o# cont#ol.

DETERIORATION OF STOC INSURANCE:

The cove# indemnifies the insu#ed against !hysical loss o# damage to stoc$s such as

f#o&en foods and othe# chilled and f#o&en items hich a#e dest#oyed due to unfo#eseen o#

sudden %#ea$don of #ef#ige#ating e)ui!ment. The Dete#io#ation of Stoc$ Insu#ance is

designed to !#ovide cove#age against damage o# loss f#om dete#io#ation of stoc$s in a

cont#olled tem!e#atu#e due to the %#ea$don of #ef#ige#ating e)ui!ment H machine#y. In o#de#

to have a full unde#standing of the natu#e and sco!e of cove#age it is #ecommended that !olicy

o#dings may %e #efe##ed to" o#" contact ou# technical staff ho ould %e ha!!y to assist you.

,#emiums a#e calculated on the %asis of facto#s such as value of stoc$ in cold sto#age" age and

condition of #ef#ige#ating machine#y" location" const#uction of %uilding" natu#e and ty!e of

#is$" indust#y e(!e#ience" !#evious loss histo#y etc.

ELECTRONIC E9UI)MENT:

Elect#onic e)ui!ment used in va#ious indust#ial o!e#ations and offices a#e e(!osed to

#is$s of unfo#eseen o# sudden causes #esulting in loss o# damage. This !olicy cove#s elect#onic

e)ui!ment against any unfo#eseen o# sudden !hysical loss o# damage" e(ce!t those s!ecifically

e(cluded unde# !olicy te#ms. The !olicy cove#s the insu#ed items at o#$ o# at home" o#

%eing dismantled fo# the !u#!ose of cleaning" ove#hauling o# %eing shifted ithin the

!#emises" o# in the cou#se of the afo#esaid o!e#ations" o# du#ing su%se)uent e#ection afte#

commissioning. The sum insu#ed should %e the #e!lacement cost including f#eight" duty" cost

of e#ection and othe# dues. If the sum insu#ed is found to %e inade)uate" ou# !olicy ill !ay in

such !#o!o#tion as the sum actually insu#ed %ea#s to the sum that should have %een insu#ed at

the outset. ,#emium calculations a#e %ased on facto#s such as values" ty!e" ma$e" model and

age" natu#e and ty!e of indust#y he#e the e)ui!ment is %eing used" e(!e#ience of the indust#y"

loss histo#y.

MAC+INER( LOSS OF )ROFITS:



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Conse)uential losses folloing a %#ea$don of machine#y" !lant o# e)ui!ment due to a

sudden o# unfo#eseen event can sometimes %e o#se than the e(tent of the !hysical damage.

,#oduction and %usiness o!e#ations may cease. >oeve#" fi(ed e(!enses such as sala#y"

ages" inte#est on ca!ital" #ent etc" ill continue to %e incu##ed" #esulting in the loss of g#oss

!#ofits and inc#eased cost of o#$ing du#ing the inte##u!tion !e#iod. achine#y +oss of

,#ofits ,olicy !#otects the insu#ed %y indemnifying the loss in g#oss !#ofits and the inc#eased

cost of o#$ing du#ing the inte##u!tion !e#iod in such contingencies as stated a%ove. The

achine#y +oss of ,#ofits ,olicy can only %e issued hen the machine#y %#ea$don cove# is

in !lace. ,#emium calculations a#e %ased on facto#s such as total tu#nove#" estimated g#oss

!#ofits" !e#iod of indemnity" volunta#y time e(cess" natu#e and ty!e of #is$" location" indust#y

e(!e#ience " !#evious loss histo#y etc.

+EALT+ INSURANCE:

>ealth Insu#ance One of the most im!o#tant ty!es of insu#ance to have is health

insu#ance. Lou# good health is hat allos you to o#$ and ea#n money and othe#ise en'oy

life. If you e#e to come don ith a sic$ness o# have an accident ithout health insu#ance

you may find you#self una%le to #eceive t#eatment o# even in de%t to the hos!ital. Than$fully"

many em!loye#s !#ovide health insu#ance %enefits to full@time and even some !a#t@time

em!loyees. If you do not cu##ently have health insu#ance cove#age this is the fi#st !lace to

chec$ as it ill gene#ally %e the most affo#da%le. If you a#e ma##ied" you may %oth %e a%le to

#eceive cove#age unde# 'ust one of the em!loye# !lans. If you# em!loye# does not offe# health

insu#ance o# you a#e self@em!loyed you still need it. 1hile it may not %e chea! the fact

#emains5 hat do you have if you don0t have you# health Even a %asic hos!ital %ill ithout

insu#ance can #un into the thousands of dolla#s. It isn0t o#th #is$ing financial #uin to save a

fe %uc$s on a health insu#ance !#emium.

LIFE INSURANCE:

This ty!e of !olicy is mo#e im!o#tant if you a#e ma##ied andHo# have child#en. Lou# life is

valua%le %ecause it is hat allos you to o#$ and ea#n an income to !#ovide fo# you# family.

1hen you a#e gone you c#eate an income ga! hich could !ut you# s!ouse o# child#en in

financial t#ou%le. Death is ha#d enough5 don0t ma$e it even ha#de# %y !utting you# loved ones

in a financial 'am if the unfo#tunate does ha!!en. Fune#als alone can %e e(!ensive and it



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c#eates even mo#e st#ess on the family. At the ve#y least you should have enough to cove#

%asic fune#al e(!enses and !#ovide a cushion fo# you# family" and at most it should !#ovide a

st#eam of income fo# you# family that can #e!lace hat is no gone. If you do not cu##ently

have life insu#ance you# %est %et is to chec$ ith you# em!loye# fi#st. any em!loye#s offe# a

%asic life insu#ance as a %enefit and some even allo you to !u#chase additional cove#age at a

ve#y affo#da%le #ate. Outside of em!loye# !lans the#e a#e hund#eds of insu#ance com!anies

that can !#ovide the #ight cove#age fo# you.

T()ES OF RISS:

1ith #ega#ds insu#a%ility" the#e a#e %asically to catego#ies of #is$s.

7. S!eculative o# Dynamic #is$s.

=. ,u#e o# static #is$.

S)ECULATI*E OR D(NAMIC RIS:

S!eculative #is$ is a situation in hich eithe# !#ofit o# loss is !ossi%le.

F"r ea%;!e" %etting on ho#se #ace" investing in stoc$H %onds and #eal estates. in the %usiness

level " in the daily conduct of its affai#s " eve#y %usiness esta%lishment faces decision that

entail an element of #is$. The decision to ventu#e into a ne ma#$et " !u#chase ne

e)ui!ments" dive#sify on e(isting !#oduct line " e(!and o# cont#act a#eas of o!e#ations "

commit mo#e to adve#tising " %a##o additional ca!ital etc ." ca##ies #is$s inhe#ent to the

%usiness .The outcome of the s!eculative #is$ is eithe# %eneficial o# loss s!eculative #is$ is a

non insu#a%le .

)URE OR STATIC RIS:

,u#e 6static9 is a situation in hich the#e a#e only the !ossi%ilities of loss o# no loss" as

o!!ose to loss o# !#ofit ith s!eculative #is$. The only outcome of !u#e #is$s a#e adve#se 6in a

loss9 o# neut#al 6ith no loss9" neve# %eneficial. E(am!le of !u#e includes !#e matu#e death

occu!ational disa%ility" catast#o!hic medical e(!enses" and damage to !#o!e#ty due to fi#e"

lighting o# flood.



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It is im!o#tant to distinguish %eteen !u#e and static #is$ fo# th#ee #easons. Fi#st"

th#ough the use of comme#cial" !e#sonal and lia%ility insu#ance !olicies" insu#ance com!anies

in the !#ivate secto# gene#ally insu#e only !u#e #is$.

T()ES OF )URE /STATIC0 RISS:

The ma'o# ty!es of !u#e #is$s that a#e associated ith g#eat economic and financial

insecu#ity include.

o ,e#sonal #is$

o ,#o!e#ty #is$

o +ia%ility #is$

,e#sonal Ris$s a#e #is$s that di#ectly affect an individual .They involved the !ossi%ility of loss

o# #eduction of income" of e(t#a e(!enses" and the elimination of financial assets.

T+ERE ARE FOUR MA2OR )ERSONAL RISS:

Ris$s of !oo# health include %ills and the loss of ea#ned income. . ,#o!e#ty #is$s a#e

the #is$ of having !#o!e#ty damaged o# loss f#om nume#ous !e#ils. ,#o!e#ty loss can occu# as a

#esult of fi#e " lightening" indsto#ms" hail" and a num%e# of othe# causes.

+ia%ility #is$s a#e anothe# im!o#tant ty!e of !u#e #is$ that many !eo!le face. o#e than

eve#" e a#e living in a litigious. One can %e used fo# any f#ivolous #eason. One has to defend

himself hen used" even hen the suit is ithout me#it.

FUNDAMENTAL RIS AND )RO)ERT( RISS:

Fundamental #is$ affects the enti#e economy o# la#ge num%e# of !eo!le o# g#ou!s

ithin the economy. E(am!le of fundamental #is$ is inflation" UN em!loyment" a# and

natu#al disaste#.

T()ES OF )OLICIES ,+IC+ A)ROAC+ FOR AR-L:

3. INDUSTRIAL ALL RIS )OLIC( /IAR0:

E( FEATURES:

It is an all #is$ !olicy defined %y e(clusions.

Unde#insu#ance u! to 7 is aived.



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It !#ovides cove# fo# mate#ial damage fo# fi#e and allied !e#ils and also %#ea$don

along ith conse)uential loss cove# less than one !olicy document.

,+AT DOES T+IS INSURANCE CO*ER?

This !olicy offe#s #is$ solutions suita%le to All insu#ance #e)ui#ements of most small

and medium ente#!#ises

STANDARD FIRE AND S)ECIAL )ERILS:

Cove#s you# !#o!e#ty against loss o# Damage due to Fi#e +ightning E(!losion H Im!losion

Ai#c#aft damage

Riot st#i$e and malicious damage

Sto#m" cyclone" ty!hoon" tem!est hu##icane" to#nado" flood and inundation

Im!act damage due to #ail #oad vehicle o# animal not %elonging to insu#ed" Su%sidence

and landslide including #oc$slide

4u#sting andHo# ove#floing of ate# tan$s a!!a#atus and !i!es

issile testing o!e#ations

+ea$age f#om automatic s!#in$le# installations

4ush fi#e

,+AT ARE T+E OT+ER CO*ERS A*AILA-LE ,IT+ T+IS

INSURANCE?

Lou can o!t fo# the folloing o!tional cove#s %elo*

-URGLAR(:Cove#s all contents 6cove#ed unde# Standa#d Fi#e S!ecial !e#ils9

against 4u#gla#y o# >ouse%#ea$ing 6theft folloing u!on an actual fo#ci%le and

violent ent#y of o# e(it f#om the !#emises9" o# >oldu! including Ro%%e#y.

MONE( IN SAFE:Cove#s loss of money 6cash" %an$ notes" cu##ency notes H coins"

%an$ d#afts" che)ues " !ostal o#de#s" money o#de#s" t#easu#y notes" cu##ent !ostage and

#evenue stam!s9 %elonging to the %usiness of the insu#ed hilst secu#ely $e!t in the insu#ed

!#emises and loss o# damage to any safe" st#ong #oom o# cash %o( secu#ing money.



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MONE( IN TRANSIT: Cove#s loss of money %elonging to the %usiness of the insu#ed

hilst in t#ansit %eteen the %usiness !#emises and H o# !#emises of insu#edPs %an$e#s and H

o# locations o# s!ecified.

ELECTRONIC E9UI)MENT: Cove#s elect#onic e)ui!ments 6e.g. com!ute#s"

!#inte#s" fa(" U,S9 e.t.c." against any unfo#eseen sudden !hysical loss o# damage unless

e(cluded s!ecifically.

)ORTA-LE E9UI)MENTS: Cove#s !o#ta%le e)ui!ments e.g. la!to!s e.t.c." against

any loss" dest#uction o# damage %y Fi#e" Riots and st#i$es" Theft %y visi%le !hysical fo#ci%le

and violent means and accidental occu##ence unless e(cluded s!ecifically.

MAC+INER( -READO,N:,#ovides cove# fo# unfo#eseen and sudden !hysical

damage due to elect#ical o# mechanical %#ea$don e.g. ai# conditione#s" #ef#ige#ato#s"

!hotoco!ying machines.

)LATE GLASS: Cove#s loss o# damage to the ,late glass com!letely and secu#ely fi(ed

in the insu#ed !#emises %y accidental means.

NEON SIGN: Cove#s loss o# damage to the neon H glo sign secu#ely fi(ed in the

insu#ed !#emises %y accidental means including Fi#e" Riot and st#i$es.

,ORMENS COM)ENSATION: Cove#s Lou fo# you# lia%ility unde# the

1o#$menPs Com!ensation ActP 78=: and Ho# Fatal accidents ActP7; and H o# Common la

to !ay com!ensation to em!loyees fo# %odily in'u#y o# death caused due to

accidentsHoccu!ational diseases a#ising out of and in cou#se of em!loyment

)ERSONAL ACCIDENT:Cove# death H disa%ility caused to you# em!loyees due to

sudden" unfo#eseen" uncont#olla%le and une(!ected !hysical event caused %y e(te#nal"

violent and visi%le means.

)U-LIC LIA-ILIT(:,#otects Lou against you# legal lia%ility in #es!ect of accidental

%odily in'u#y to thi#d !a#ties and o# accidental loss and Ho# damage to !#o!e#ty %elonging to

thi#d !a#ties" Offe#s Food 4eve#age #ide#" E(t#a Facility #ide#" Ca#e" Custody and Cont#ol

#ide#" Act of /od #ide#



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-AGGAGE: Cove#s loss" dest#uction o# damage to the accom!anied !e#sonal %aggage of

the Insu#ed

FIDELIT( GUARANTEE:Insu#es you against di#ect financial loss due to f#aud o#

dishonesty of the em!loyee.

,+AT IS NOT CO*ERED UNDER T+IS INSURANCE?

STANDARD FIRE 8 S)ECIAL )ERIL:

+oss" dest#uction o# damage caused %y

o 1a# o# a# li$e o!e#ations

o Ioni&ing #adiations" contaminations %y #adioactive" nuclea# fuels o# aste

o ,ollution o# contaminations losses

o +osses of ea#nings o# loss of a#$et

o Te##o#ists act.

-URGLAR(:

+oss" Dest#uction o# damage caused %y*

o Fi#e o# e(!losions

o Inmates o# mem%e# of the insu#edPs household o# %usiness staff.

ELECTRONIC E9UI)MENT:+oss" dest#uction" o# damage caused %y

o 1ea# Tea#

o Faults o# detects e(isting at the time of commencement of insu#ance ithin the

$noledge of insu#ed o# his #e!#esentative

)ORTA-LE E9UI)MENT:+oss" dest#uction o# damage caused %y



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o ,#ocess of cleaning" #esto#ing" #e!ai#ing o# dete#io#ation a#ising f#om ea# and tea#"

moth ve#min" insects o# any othe# g#adually occu##ing cause

o C#ac$ing" sc#atching

o Detention o# confiscation %y customs o# othe# autho#ities

o Conse)uential losses o# legal lia%ility of any $ind

MAC+INER( -READO,N:+oss" dest#uction

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