Page 164 - Misc Ebook IC 78

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involved. Similarly in personal accident insurance the
main factor used for rating is based on the occupation
of the insured. Generally speaking exposure to risks at
home or street is more or less similar for all persons,
however the risks associated with the professional
occupation vary according to the nature of work
performed.

For example, an officer is less exposed to risks at work
than a civil engineer working at the site of construction.
But, since it is not practicable to fix the rate separate
plea for each profession or occupation, the occupations
are classified into groups.

Each group reflect more or less similar risk exposure.
The system of classification is simple and workable in
practice.

Risks are classified into three groups on the basis
of occupation for the purpose of rating. They are :
(i) Risk Group I - Accountants, Doctors, Lawyers,

Architects, Consulting Engineers, Teachers,
Bankers, Persons engaged in administrative

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