“I. All policies issued under the Retail Lines of Business shall not have any Arbitration Clause.
II. All policies issued under the Commercial Lines of Business shall have an Arbitration Clause as under:
“The parties to the contract may mutually agree and enter into a separate Arbitration Agreement to settle any and all disputes in relation to this policy.
Arbitration shall be conducted under and in accordance with the provisions of the Arbitration and Conciliation Act, 1996.”