How are rates determined?
Material Damage Section:
- FIRE - Rates as per the Standard Fire Special Perils Policy.
- Machinery Breakdown - 2.50%o.
Loss of profit Section:
- FLOP - as per Fire (LOP) Tariff less 10% discount.
- MLOP - to be referred to as TAC.
NB: Based on the favorable claims ratio, a discount of up to 25% can be allowed.
