Page 24 - Insurance Times July 2019

14812 Plastic goods manufacturing (excluding foam plastics, 1.93
above 15000 btu/ib))
16309 Rope works (plastic), assembling of plastic goods 1.44
such as toys and the like
3 Rubber Good 16511 Rubber factories 1.76
Manufacturing
16612 Rubber goods mfg with spreading 2.07
16709 Rubber goods manufacturing without spreading 1.56
19608 Tyres and tubes manufacturing 1.26
4 Chemical 4311 Chemical manufacturing(using materials with flash 1.94
Manufacturing point below 32oc), bulk drug manufacturing
6809 Distilleries 1.24
6609 Detergent manufacturing with sulphonation plant 1.43
7908 Fertiliser manufacturing (other than those rateable 1.25
under petrochemical tariff)
14007 Paint factories (Water based) 1.5
14113 Paint (others) & varnish factories 2.27
14215 Paints - nitrocellulose based 2.76
5 Storage of category iii Storage of category iii 4.24
6 Transporter go downs Transporter go downs 3.6
7 Steel plants 805 Aluminium ,zinc,copper factories 0.71
7504 Engineering workshop 0.25
8 Power plants 7004 Electric generation stations - hydro power stations 0.4
7005 Electric generation stations - others 0.4

The circular shared by GIC is also depicted below:-
Clarifications in Respect of Point (D) of the Endorsement :

9. Clarification on IIB codes.
The following IIB occupancy codes will apply for each of the occupancies under Point (D) :
No. Main Occupancy Codes to be included
1. Textiles 2053, 2089, 2103, 2111, 2115, 2121, 2122, 2134, 2171, 2189, 2199,
2202, 2206, 2207 and 2211
2. Plastics 2084, 2148, and 2163
3. Rubber Goods Manufacturing 2165, 2166, 2167 and 2196
4. Chemical Manufacturing 2043, 2068, 2066, 2079, 2140, 2141, 2142 and 4010
(<32 deg C Flast point)
5. Storage of Category III Goods 4004
6. Transporters Godowns 4005
7. Steel Plants For Steel Manufacturing - 2008
For Other than Manufacturing - 2075
8. Power Plants 2070 and 2210
Thus the burning cost is the experience based insurance rating method commonly used in determining rates and is the
ultimate tool that helps the underwriter to price the risk.

24 The Insurance Times, July 2019