A debit and credit plan that recognizes variations in the hazard-causing features of an individual risk.
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A more refined version of class rating in which the rate depends upon a more detailed analysis of the exposure’s characteristics, Schedules vary in the degree of flexibility they permit the person determining the rate.
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An analysis of the various physical elements of a risk attempting to provide an equitable rate for Insurance generally in Fire or workmen’s compensation. There is a Direct relation between the physical conditions and the loss experience.