Page 364 - Motor Insurance Ebook IC 72

The Insurance Times

Liability to Employees of the Insured, who may be
driving/riding the Employer's Motor Cycle may be
covered at the extra premium of Rs.50/-

(4) Reliability Trials and Rallies - Policies may be
extended to permit use during particular reliability
trial or rally under the auspices of a recognized
motoring organization on payment of specific
additional premiums.

(5) Increased Third Party Property Damage - The
policy may be extended for Increased Third Party
Property Damage.

Q 12. What are the constituents of statistical structure
for motor insurance?

Ans. Rates of premium for any class of insurance are based
on past loss experience. So is the case with Motor
Insurance. In view of this it is most essential to maintain
a detailed statistical structure for premium and claims
cost for Motor insurance. Following are the constituents
of statistical structure for motor insurance-
1) Collection of Statistics- The tariff provides
classification and sub-classifications of vehicles.
Statistics of premium and claims are also be
maintained and collated on the same basis. The
second aspect is the nature of the cover provided

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