Stranded/grounded vessels on the Indian coast- Insurance Claims

• jl~ lilUfl~ itirT ~R~lqcfi 3ffi ~cfilfl ~ 11,1,1 .. m INSURANCE REGULATORY AND ir.tai DEVELOPMENT AUTHORITY OF INDIA CIRCULAR I RDA/N L/G DL/M ISC/105/05/2016 Date: 26.05.2016 To All the General Insurance Companies transacting Marine insurance business Re: Stranded/grounded vessels on the Indian coast- Insurance Claims The Authority is in receipt of letters dated 23.07.2015 and 08.01.2016 from DG Shipping on the captioned matter. The DG Shipping has stated that in some instances, ships stranded on the Indian coast are being abandoned by some ship owners leading to environmental degradation and increasing burden on the national exchequer for remedial measures. Copies of the letters received from DG Shipping and a copy of Authority's response dated 23.05.2016 are enclosed for information. The insurers may keep the concerns of DG Shipping in mind while handling the related claims. ~ L.-::__ / PJJoseph --- Member y Encl: as above llftwi- 'llcR, itmr (@, a:t:/ft(a:tl•I, ~-500 004 . 'ITT@' t : 91-040-2338 1100, fncm: 91-040-6682 3334 t-lR1: irda@irda.gov~ ~: www.irda.gov.in 1/ Parisharam Bhavan, 3rd Floor, Basheer Bagh, Hyderabad-500 004. India. Ph.: 91-040-2338 1100, Fax: 91-040-6682 3334 E-mail : irda@irda.gov.in Web.: www.irda.gov.in