Package Policy Ratemaking

A discussion of principles for package policy ratemaking at the present stage of package policy development will obviously produce more questions than answers. The paramount question raised in this seminar was the proper definition of a package policy. Rather than attempting a definition, it was assumed that the title of the seminar was inclusive of all types of combinations of basic coverages in a single policy but that the approach to the establishment of ratemaking principles should be different for a package such as the special automobile policy than for packages such as the new commercial multiple peril policies.