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Business Interruption Underwriting, Rating a Risk - Coggle Diagram
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Rating a Risk
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other insured perils, except theft,
generally follow the rate charged under the
material damage policy
A lower theft rate than that charged for material damage cover will apply as any interruption following theft is likely to be very short as it is stock rather than production capacity which is usually affected.
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Loadings for negative physical features of the risk such as non-standard construction, heating or multi- tenancy
Discounts for positive physical features of the risk e.g. fire protection systems or good standards of housekeeping.
other perils may be rated at 50% of the mat damage rate for a 12-month maximum indemnity period and be further reduced proportionately for longer periods
Any perils that can cause damage resulting in a long interruption (usually known as the catastrophe or dry perils) are often rated at the full material damage rate.
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