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Definition of a petrochemical risk as given under latest Indian petrochemical tariff
1. Definitionof apetrochemical riskasgivenunderlatest Indianpetrochemical tariff isasfollows
RisksusingclassA or classB hydrocarbon/natural gasasbasicraw materials
And
Where suminsuredinone compoundcomplex exceedsRs50 Crores
AND
The sum insuredof plantsusingclassA or class B hydrocarbon/natural gasasbasic raw materialsisin
excessof 35% of the total suminsuredof the risk
Note Word “Hydrocarbon”excludes“all substitutedhydrocarbons”like oxidesof hydrocarbons etc