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Title: To all the General Insurance Companies transacting Marine insurance business
Reference No.: IRDA/NL/GDL/MISC/105/05/2016
Date: 26/05/2016
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.
P J Joseph
Member (NL)
Encl: as above
