Kyar Fishing Barge Owner’s Liability Insurance

Insured

1. Kyar Fishing Barge owners can insure the fishers who serve on fishing vessels near the coast or far the coast.

Organization

2. Department of fisheries must undertake as an intermediary between Myanma Insurance and Kyar Fishing Barge Owner to affect Kyar Fishing Barge Owner’s Liability Insurance.

Period

3. One year

Sum Insured

4. Sum insured – from minimum kyats (5) Lakhs (one unit) to maximum kyats (50) Lakhs (20) units

Premium Rate

5. Kyats (3500/-) for (1) unit

Coverage

6. Any person who serves on the Kyar fishing barge and also those who are serving on the Kyar fishing barge (including getting on to the barge and getting off the barge) are covered for the following causes:
   1. Death
   2. Injury
   3. Permanent total disability and
   4. Partial disability

Benefits

7. Benefits are as follows:

8. Exclusions

1. Accident occurred before getting on to the barge and after getting off the barge.
2. Death and bodily injury/ injuries directly or indirectly resulting from the following cause(s):
   1. using narcotic drugs
   2. intentional self-injury
   3. suicide
   4. crime on the barge.

Requirements for Indemnity

9. The ship owner, the insured or the beneficiary can submit the claim. Benefit claim form must be submitted together with the following –
   1. Department of Fisheries’ Recommendation Letter
   2. Police (or) Local Authority’s Recommendation Letter
   3. Barge owner and two witnesses’ recommendation letter
   4. Copy of Death Certificate (for death)
   5. Copy of Medical Certificate (for injury)
   6. List of fishers including the insured on this voyage approved by local authority
   7. The requirements and scale for indemnity and the title of benefit are in  accordance with the procedures of Third Party Liability Insurance.

General

10. 1. During the policy period substitution, increasing decreasing the numbers      of insureds or sum insured can be done.
    2. No refund premium will be paid for the cancellation of insured person from the list (of insureds); however, substitution of the insured can be made.
    3. After the payment of death benefit, if the cancelled person is substituted with another one in the list of insureds, the proportionate premium must be paid.
    4. The substitution of insured must be notified to Myanma Insurance (Head Office) or nearest branch office as soon as possible.
    5. Death and/or injury cases must be notified to Myanma Insurance (Head Office) or nearest branch office.
    6. If necessary, Myanma Insurance will take necessary inspections in death case.
    7. Benefits must be claimed within 6 months after death.
    8. Renewal premium must be paid before the expiry to renew the policy period.
    9. In the case where the corpse of the insured is not found, but the insured appears after the payment of death benefit, the Kyar fishing barge owner and witness must guarantee to pay back the benefit in lump sum within the specified period. In the event of discovery of fraudulent claim, Myanma Insurance will make the necessary legal action against the fraudulent claimant(s).