Page 391 - Fire Insurance Ebook IC 57

The Insurance Times

eligibility, limits of insurance, and premium
calculation), and loss costs ( i.e, the portion of an
insurance rate representing projected losses and
costs of settling those losses). Insurance rates are
then fixed by adding other factors like insurers'
management expenses, profit margins etc

(b) The category of properties covered broadly are:
(i) Building which is defined as the structure, plus

permanently installed fixtures, outdoor fixtures,
property used to maintain and service the building
(E.g,fire extinguishing equipments, refrigerating
appliances etc).
(ii) Business personal property which includes amongst
others , Furniture and fixtures, Machineries and
Equipments, and Stock.
(iii) Leased properties or properties under construction
(i.e other's properties).

Additional coverage:
(i) Debris removal - Costs of removing debris.
(ii) Pollutant clean up and removal - The costs of

extracting pollutants from land or water. Has a

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