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- FIRE RATING
- CASUALTY/MISCELLANEOUS ACCIDENT
- MOTOR
- MARINE .
| A | 0.085% | 0.110% | 0.145% |
| B | 0.150% | 0.195% | 0.255% |
| C | 0.180% | 0.234% | 0.306% |
| D | 0.250% | 0.325% | 0.425% |
| E | 0.325% | 0.423% | 0.588% |
| F | 0.535% | 0.695% | 0.909% |
FOR ASSETS ALL RISKS COVERS See General Notes SECTION C: POLITICAL RISKS & SPECIAL PERILS RATES A. Political Risks which may be covered are: 1. Indirect Lootings - Where a person suffers loss or damage from mob action that originated elsewhere. 2. Looting occasioned by political motives 3. Loss or damage resulting from civil commotion 4. Loss or damage occasioned by politically motivated terrorism Rate: 0.300% (Point three per mille) subject to a minimum premium Note: · No F.E.A discounts should be allowed on these political risks · Cover is to be purchased separately provided a primary fire policy is already in existence. · Reinsurance confirmation must be obtained before granting the cover, except on Net Account SECTION D: SPECIAL PERILS : minimum rates shall be as follows: Commercial/Industrial Special Perils Rate (%) 1. Earthquake .020 2. Storm, Tempest, Flood & Tonado .025 3. Aircraft .001 4. Riot & Strike .010 5. Malicious Damage .005 6. Burst Pipe .001 7. Impact .001 8. Bush Fire .002 9. Subsidence .100 10. Spontaneous combustion .100 11. Explosion .010 If all perils Add 0.275% to the basic Rate Note: No F.E.A. discounts should be allowed on all Special Perils. SECTION E: COMPULSORY EXCESS Excess Applicable 10% of each and every claim The minimum excesses shall be as follows: A. For Fire, Lightning and Explosion: K5, 000, 000 (For Textile, Plastic, Metal, Departmental Stores and Offices risk beyond five storeys) B. For Special Perils: as stated hereunder Commercial/ Industrial Residential Special Perils K K 1. Earthquake 2, 500, 00 500,000 2. Storm, Tempest, Flood & Tonado 500,000 250,000 3. Burst Pipe 500,000 250,000 4. Riot & Strike 500,000 250,000 5. Malicious Damage 500,000 250,000 6. Spontaneous Combustion 500,000 250,000 7. Subsidence 5,000,000 2,500,000 SECTION F: VOLUNTARY DEDUCTIBLE DISCOUNTS Dependant upon the relationship between Deductible and %of PML discounts may be allowed ranging from 5 % to 20% 5.0 7.5 10.0 12.5 15.0 17.5 20.0 Provided saving in Premiums is not to exceed 33.33% of the amount of such Deductible. The Insured must not effect an insurance cover on the amount of the Deductible. SPECIAL PROVISIONS 1. AVERAGE: All fire insurances shall be subject to the Condition of Average . 2. COMMUNICATING BUILDINGS: All buildings communicating directly other than by Double Fireproof Doors or Fireproof compartment, or in the case of sheds or buildings protected by an approved automatic Sprinkler Installation, by single fireproof Doors, are to be deemed and rated as one risk 3. WAREHOUSE: Unless otherwise classified, a Warehouse forming a separate risk shall be rated according to the appropriate Occupational/hazard classification. SECTIION G: SHORT PERIOD RATES The following scale of rates shall apply to Policies issued or renewed for less than one year except as otherwise provided: Period (not exceeding) 1 day .. 5% of annual rate 3 days .. 8% of annual rate 1 week .. 12.,5% of annual rate 1 month .. 20% of annual rate 2 months .. 40% of annual rate 3 months .. 50% of annual rate 4 months .. 62.5% of annual rate 6 months .. 70% of annual rate 8 months .. 80% of annual rate Period (exceeding) 8 months .. Full annual premium Policies issued for a short period may not be extended upon payment of the difference between the premium for the short period and that for the extended period. SECTION H: LOSS OF PROFITS AVAILABILITY Only if Fire and Perils cover in force PERILS The same as in force for Fire and Perils GROSS PROFIT RATING The same as in force for Fire and Perils but the percentage of same is dependent upon the selected Indemnity Period INDEMNITY PERIOD & MULTIPLIERS As selected i.e. the time that it would take to re-build the premises and re-equip or re-stock following Material damage leading to loss of profits. Fire and Perils rate percentages applied on the basis rate (The Average rate on Fire Policy) to be utilized: INDEMNITY PERIOD MULTIPLIER Up to 3 Months = 75% Up to 4 Months = 90% 6 Months = 110% - Applied to the Gross Profit 9 Months = 130% anticipated for 12 Months 12 Months = 150% 15 Months = 145% 18 Months = 140% - Applied to the Gross Profit 24 Months = 125% anticipated for the full period (Not applicable to Wages, Standing Charges and Auditors Fees and Claims Preparation Costs which 100%) DEPOSIT PREMIUM CLAUSE Only allow the 80% factor for larger risks though all should be adjusted at the end of the Policy Period on actual declared figures. AUDITORS FEES Should reflect the agreed annual audit fee and no less; 125% OF Basis Rate Applied on the Fee WAGES Either Covered as part of the GP figure or Dual Basis; Dual Basis Wages Multiplier Tables attached WARNING Always insist upon; audited accounts for a period of not less than three years prior to cover to enable you to compare with budgeted/projected estimates. SECTION I: GENERAL NOTES Treatment of Assets All Risks As a guide, AAR Covers will only be provided where it is shown that the Risk, business is professionally managed and also on the basis of the following guidelines:
 | Only risks with Asset values in excess of K25 billion or $5million should be considered |
| The IAZ approved wording should be used |
| The various sections should first be rated separately (fire material damage, business interruption, money, electronic equipment, etc) and the net rate obtained by dividing the total premium by the Declared value for Material Damage & Business Interruption. Each company should give its own treatment of M P L |
| The limits of liability must not exceed 50% of the declared values |
| The minimum deductible on major perils is 10% minimum of loss. |
| The sub classes limits individually must not exceed 20% of the limits under the fire section |
| Sufficient risk information, including losses in the past five years must always be provided. |
| Risk Management Programmes available at the company (proposers) premises |
| Engineering Department like Machinery Breakdown, CAR, excluded |
SCHEDULE OF OCCUPATION FOR FIRE RATING 1ST JULY 2005
NB
The Rating Group/Occupational classification must be applied in conjunction
with the Construction Classes Massive, Mixed and Inferior (A, B & C) as
defined in the Insurance Companys Treaty.
Type of Risk/Occupation in Alphabetical Order
The list of different occupations cannot be exhaustive but can serve as a
guideline for setting the basic Fire Rate.
Further
Rating
Ref
Group
A
Abattoirs
C
Abattoirs (with Fat rendering solvents)
D
Acid Alkali & Soda Works/Factories
C
Adhesives/Gum Factories (flammable Solvent based
Processes)
E
Adhesives/Gum Factories (water based)
C
Agricultural showgrounds
C
Airated Waater Factories
B
Aircraft Hangars (no repairs)
C
Aircraft Freight Buildings
C
Airport Passenger Buildings
A
Ammunitions Factories
F+
Amusement parks & arcades
F
Animal Feed Factories & Dealers
E
Assembly Halls (without stage/concert)
B
Assembly Halls (with Stage)
D
B
Bacon Curing and Smoking Works C
Bacon Curing and Smoking Works (not modern) E
Bakeries
D
Blast and Stone Crushers
A
Banks
A*
Bars/Bottle Stores
C
Battery
Services Station
D
Bicycle repair Shops
D
Blacksmiths
C
Blind Manufacturers (Metal)
B
Blind Manufacturers (Metal)
E
Boarding House/Private Hotels
B*
Book Binding Works
D
Boiler/Engine Sheds
D
Boot and Shoe Factories-hand power only
D
Boot and Shoe Factories with power E
Boot and Shoe Factories no plastics/rubber
E
Boot and Shoe Factories (Other)
F
Box Factories Cardboard
D
Box Factories (Metal Only) B
Box Factories (Timber) E
Brake and Clutch Lining Manufacturers C
Breweries (no maltings) A
Breweries (with maltings) B
Brick and Tile Works D
Broadcasting Stations A
Brush and Broom Factories
F
Builders & Contractors Yards no mechanical
Wood working
D
Builders & Contractors Yards with mechanical
Wood working
F
Bus Depots (no repairs)
B
Bus Depots (with repairs)
C
C
Calico Printing Works C
Cane Factories F
Candle Factories