What are the parameters that would determine the premium under personal accident?
The premium is based on the nature of occupation and each insurer has their own classification: ยท In case of public sector general insurance companies lassification is as follows: 1. Normal risk – all persons not engaged in hazardous occupations such as working in mines, electrical installations,circus personnel,mountaineers etc. 2. Heavy Risk: those who are engaged in hazardous occupations such as working in mines, electrical installations,circus personnel,mountaineers etc.
