Page 356 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

accounts of the previous financial year, to
arrive at the rate of gross profit.
(b) Turnover during the indemnity period and
standard turnover to determine the shortage.
(c) The increased cost of working and the turnover
maintained thereby.
(d) The insured standing charges and uninsured
standing charges.
(e) The insured standing charges not incurred
during the indemnity period.
(f) Annual Turnover to determine under
insurance.

(vii)Finally, the surveyor has to consider applications,
trends, variations and special circumstances, if any,
to adjust the rate of gross profit, annual turnover
and standard turnover.

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