.-In respect of the categories of insurance policies mentioned hereunder the requirements of sub-section (1) of section 64-VB shall stand relaxed to the extent and in the manner mentioned against each category of policy, subject to the conditions mentioned therein:(a)Policies issued to Government and semi-Government bodies .-The risk may be covered on such policies on the strength of an undertaking by the proposer to pay the premium within 30 days of the date of intimation of the amount of premium or within such further period as the Controller may fix in any particular case.(b)Policies under [Sickness Insurance, Group Personal Accident Insurance, Medical Benefits Insurance and Hospitalisation Insurance Schemes] [ Substituted by G.S.R. 1051, dated 19.7.1971.] .-Premiums on such policies may be accepted in instalment covering a particular period shall be received [within 15 days from the date of commencement of the period] [Substituted by G.S.R. 1051, dated 19.7.1971. ].(c)[ Fidelity Guarantee Insurance .-Fidelity Guarantee Insurance policies covering Government and semi-Government employees may be issued without receipt of premium in advance if the policy is not in renewal of an existing policy and subject to the condition that the premium is paid within thirty days from the date of appointment of the person covered by the policy.] [ Inserted by G.S.R. 1051, dated 19.7.1971.](d)Policies covering risks where exact premium cannot be ascertainted without reference to Head Office, Principal Office, etc .-Where the exact premium for a risk cannot be ascertained without reference to Head Office, Principal Office or Controlling Office or the Tariff Advisory Committee for Regional Committee or for any other reason, the risk may be assumed if there is a deposit made by or on behalf of the insured with the insurer at a suitable rate not less than 2.5 per mile but the premium in such cases shall be paid or adjusted within thirty days of the commencement of risk or, where a reference is made to the Tariff Advisory Committee or a Regional Committee, within fifteen days of the date of the advice from the Tariff Committee or the Regional Committee as the case may be, failing which the cover shall be cancelled on the expiry of the period of thirty days or fifteen days, as the case may be:Provided that in the case of policies covering carriers' liability, the adjustment of premium may be made after the expiry of the policy.(e)Declaration policies .-Risk in respect of such policies may be assumed if at least the premium calculated on 75 per cent of the sum assured has been received before assumption of the risk.(f)Policies issued on the basis of adjustable premiums .-Risk in respect of policies issued on the basis of adjustable premiums, such as, workmen's compensation, cash in transit, etc., may be assumed on receipt of provisional premiums based on a fair estimate.(g)[ Annual Insurances connected with aircraft hulls and other aviation risks and connected with marine hulls .-Facilities for delayed payment of premium or the payment of premium by means of instalments not exceeding four in number may be allowed at the discretion of the insurer on policies covering the following risks, namely:--(i)aircraft hulls,(ii)marine hulls,(iii)legal liability to passengers,(iv)automatic personal accident insurance to passengers,(v)blanket policies covering liability in excess of basic cover connected with aviation risks.(vi)war risk insurance of air passengers and aircraft hulls,(vii)third party, and other liability risks connected with aviation risks and marine hull risks,(viii)SRCC risk connected with aviation risk and marine hull risks:Provided that a clause to that affect is endorsed on the policy.] [Inserted by G.S.R. 1051, dated 19.7.1971. ](h)Short period covers in respect of insurance connected with aircraft hulls and other aviation risks and marine hulls .-Short period covers may be granted on a hull covered basis on the following risks, namely:--(i)aircraft hulls,(ii)marine hulls,(iii)legal liability to passengers,(iv)automatic personal accident insurance to passengers,(v)blanket policies covering liability in excess of basic cover connected with aviation risks,(vi)war risk insurance of air passengers and aircraft hulls,(vii)third party and other liability risks connected with aviation risks and marine hull risks,(viii)SRCC risks connected with aviation risk and marine hull risks; subject to the condition that the premium or additional premium in respect of risks assumed in a calendar month shall be paid by end of the next calendar month.(i)Policies issued [for a period of more than one year] [ Substituted by G.S.R. 1051, dated 19.7.1971.] .-In the case of policies issued [for a period of more than one year] [Substituted by G.S.R. 1051, dated 19.7.1971. ], such contract Performance Bonds or Guarantees, Contractors' "All Risk" policies, Machinery Election policies and the like, the premium may be staggered as necessary according to custom, over the period of the cover, provided that the first equated instalment is higher than any other instalment by at least 5 per cent of the total premiums payable and each instalment is paid in advance. Where the premiums are payable by declarations, they may be paid within fifteen days from the dates of receipt of declaration.(j)Schedule and consequential loss policies .-In such cases a provisional amount towards the premium shall be collected before the date of inception or renewal of risk on the basis of the previous year's premium.(k)Marine covers other than hulls .-(i) In the case of inland shipments and transit risks, risk may be assumed under open policies in respect of seasonal crops, such as, tea, on the payment of a provisional premium based on a fair estimate.(ii)In the case of exports overseas, risk may be assumed subject to the condition that the premium shall be paid within fifteen days from the date of sailing of the overseas vessel.(iii)In the case of imports, risk may be assumed subject to the condition that the premium shall be paid within fifteen days of the receipt of declaration in India from the insurer's or insured's representative overseas:Provided that the relaxations under sub-clauses (ii) and (iii) shall apply to marine cover notes only and not to marine policies.(l)Policies relating to insurances .-The premium shall be deemed to have been duly paid if paid on the full insurance to anyone of the co-insurers.(m)[ Policies of re-insurance .-(i) Risk may be assumed without payment of premium in advance on insurances accepted under automatic re-insurance contracts.(ii)In the case of facultative re-insurances accepted, risk may be assumed without payment of premium in advance if the ceding insurer lies given an undertaking to pay his share of the premium, instalment of premium, premium subject to delayed payment or, where a deposit premium or provisional premium was paid on the original policy, the adjusted premium, or, in the case of premiums subject to delayed payment, the delayed premium, as the case may be, before the end of the calendar month succeeding the month in which the premium is due under the original policy.]Consultative Committee
