Page 222 - ic92 actuarial
P. 222
The Insurance Times
g) Automobile liability Insurance classifications - The
automobile liability insurance classifications can be
categorized into the following type of variables : (i) age-
gender-marital status, ( ii) use, and (iii) geography, and
(iv) others.
The age-gender-marital status primarily distinguishes
among youthful operators, although most insurers have
a separate single males under 30. Some insurers have
separate classes for each age, whereas some group ages.
Most insurers distinguish between single male operators
and occasional operators, or between single and married
female operators, and between principal and other
operators for females and married males.
The use categories typically are pleasure, drive to work
(sometimes over and under a given number of miles),
business, and farm. Added to this may be the annual
driving mileage. Use categories may vary between adult
and youthful operators.
Geographical territories are commonly used in
Website: www.bimabazaar.com Call: 033-22184184 /40078428 222
Copyright@ The Insurance Times. 09883398055 / 09883380339
