Page 197 - Fire Insurance Ebook IC 57

The Insurance Times

individual client or group of clients, in terms of
scope of cover, basis of insurance , deductibles,
rates and terms and conditions of cover. This
includes Homeowner's Comprehensive or
Shopkeeper's Comprehensive or Banker's
Blanket insurance.

(ii) Individual Rated Products - They are further
classified into
(a) Individual experience rated products- These
are the products where the rates, terms and
conditions are determined by referring to the
requirements and the actual claims experience of
the insured concerned.

These are typically insurances with high frequency
but low intensity of loss occurrences . E.g Cargo
insurance , group insurance for P.A or health
insurance, motor fleets and Hull insurance.

(b) Exposure rated products - These are the products
where the rates, terms and conditions are

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