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7/27/2019 Property Portfolio of R.O Ludhiana
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UNITED INDIA INSURANCE COMPANY
LIMITED
REGIONAL OFFICE, LUDHIANARegional Office Ludhiana was formed in the year 1989.
It consists of :-
1) 14 Divisional Offices
2) 35 Branch Offices
3) 5 Micro Offices
4) 1 Motor OD Hub opened on 24.08.2009
R.O Ludhiana caters to entire Punjab except D.O
Sangrur, D.O Patiala, D.O Pathankot & D.O Hoshiarpur
which fall under R.O Chandigarh
7/27/2019 Property Portfolio of R.O Ludhiana
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Brief Profile of the Region
Ludhiana is known as biggest Industrial hub of Punjab state. Ithas large Hosiery Industry having around more than 3000Textile and Spinning Mills and Garment Units.
It is also known for its cotton belt in Bathinda and Abohar
having a lot cotton and Ginning mills. Bathinda has Oilrefinery and Thermal Power Plants.
Ludhiana has also got biggest Cycle parts and Cycle
Manufacturers, Steel Rolling Mills, Sewing Machine Unitsand Hand Tools Industry. Hero and Avon cycles are wellknown for their quality all over the world.
7/27/2019 Property Portfolio of R.O Ludhiana
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Fire and Engg Premium /ICR
Fire Engineering
Year Premium
in Lacs
Incurred
Claims in
Lacs
Premium
in Lacs
Incurred
Claims
in Lacs
2009-10 2160.71 1116.27
(51.66%)
1105.38 995.82
(90.09%)
2010-11 2428.68 802.89
(33.06%)
1300.47 1185.03
(91.12%)
2011-12 2760.22 3533.92
(128.03%)
1417.81 993.25
(70.06%)
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Accretion and Growth
For the
Year
Fire Engg
Accretion Growth% Accretion Growth%
2010-11 267.97 12.40 195.09 17.65
2011-12 331.54 13.65 117.34 9.02
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List of Major ClientsS.No Name of Client Our
Premium
UIIC
Share
1 Oswal and Nahar Group 3 Cr 100
2 Amtek Auto Group 3 Cr 100
3 Rico Auto Industries, 0.5Cr 100
4 Aarti Steels Ltd 0.2Cr 60
5 Saber and Jai Durga Paper Ltd 0.15 Cr 100
6 Pioneer Polyleathers ltd 0.16 Cr 100
7 Aarti Intl Ltd 0.22Cr 50
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List of Major ClientsS.No Name of Client Our
Premium
UIIC
Share8 DMC Hospital
0.40Cr
100
9 SEL Group 0.75 Cr 100
10 Hindustan Tyres 0.20 Cr 100
11 Poddar Tyres 0.25 Cr 100
12 Sharman Group 0.25 Cr 100
13 Garg Acrylics Ltd 0.50 Cr 100
14 Supreme Tex mart 0.30Cr 100
7/27/2019 Property Portfolio of R.O Ludhiana
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List of Major Clients Contd.
S.No Name of Client OurPremium
OurShare
15 Shiva Tex fab 0.40 Cr 100
16 Hema Engg Ltd 0.50Cr 100
17 Sunbeam Auto Pvt Ltd 2 Cr 70
18 Munjal Showa Ltd, 0.30Cr 65
19 Munjal Casting, 0.24Cr 100
20 Shivam Autotech Ltd, 1Cr 100
21 Unitech Machines Ltd Group, 2Cr 100
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List of Major Clients Contd.
S.No Name of Client Our
Premium
UIIC
Share
22 Kangaroo Industries 0.25 Cr 100
23 Autofit Pvt Ltd 0.27Cr 100
24 Kundan Rice Mills 0.40Cr 100
25 Majestic Auto Ltd 0.30 Cr 65
26 Omax Auto Group 0.40 Cr 100
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Steps taken to reduce the ICR and to Expedite
Processing of Claims in Fire & Engg
FIRE PORTFOLIO
Pre Inspection be carried out before U/w the risk and a duly
filled proposal form is obtained.
Valuation report is obtained in advance in order to avoiddispute/ delay at the time of claims.
No Second Hand/Obsolete Machinery be covered on RIVbasis. If it is too old/obsolete , it is not covered at all.
7/27/2019 Property Portfolio of R.O Ludhiana
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Contd.
Risks falling under declined list are not being underwritten atany cost or if any proposal is required to be accepted it isreferred to H.O before underwriting for seeking underwritingadvices.
Risks situated in Low lying areas are avoided.
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Contd.
As far as possible, covering of Hazardous goods is
avoided and only be underwritten after risk
inspection report with emphasis on the storage and
stacking of such commodities in warehouses.
The specific value of Boundary wall as well as Plinth
and foundations is obtained in order to avoid dispute
at a later stage for settling the claim.
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ENGINEERING PORTFOLIO
Pre-inspection of of the machinery on RIV basisis sought which clearly depicts the Sr.No. Make,
Type and year of manufacture of the Machinery
to be insured. The report should speak about
whether the machine is new or second hand, itsmaintenance, housekeeping and proper running
condition and previous claim history of the
machinery.
No Selective machinery insurance is permitted.
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Contd.
No declined machinery is insured without H.O
approval.
Operating Offices where incurred loss ratio in
Engg policies (like MBD and EEI) is high are
advised to seek approval from R.O before U/w
the risk
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Contd.
PROJECT POLICIES In project policies appropriate warranties are
applied wherever applicable.
Proposal form is obtained in project policies.
No second hand machinery is given testing
cover
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OBJECTIVES AND REMARKS
All risks where ILR has been more than 70 % in
the past three years, are being scrutinized, sothat appropriate action/measures are taken toreduce the incurred losses in future. The riskinspection of such risks are done on top priority.
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Contd.
We have declined certain risk of some areas andhave advised not to underwrite risk falling inthose region. Certain clients are also blacklistedwhich should not be insured at all, irrespective ofdiscounts. Eg. Spinning mills of Panipat
All the prospective leads are been traced so that
the business could be tapped right from theproject stage to increase our premium base inboth Fire and Engg portfolios
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Thank You