Commercial Liability Auto Insurance Rates

The earned premium shall be adjusted at the termination of the policy and shall equal the premium derived by multiplying the actual number of chauffeurs and other operators of automobiles employed at each location and for each classification covered by this insurance, by adjusted average rates determined as hereinafter provided, plus the premium derived by multiplying one-half the number of automobiles owned during the policy period in excess of the actual number of chauffeurs and other operators of automobiles by the said adjusted average rates.

The rates to be used in the adjustment of earned premium shall be the rates given in the Company’s published Manual of rules and rates effective at the inception date of this insurance. To determine the number of chauffeurs and other operators of automobiles for any location or classification, the total payroll expended for chauffeurs and other operators during the policy period for each location and classification shall be divided by the average annual wage of chauffeurs and other operators during the same period.


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