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How is GL premium calculated?

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in Insurance by (82.5k points)
How is GL premium calculated?

I'd like to ask this question from g l insurance

I have been asked this question at a job interview.

Other related questions to my question are:

What is general liability insurance premium based on?

How do you calculate premium liability?

What is the premium basis?

Is general liability based on payroll or sales?

1 Answer

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Correct answer is: Exposure Base Many classifications are rated based on sales. For these classifications, the premium is typically calculated by multiplying the rate times gross sales divided by 1,000.Jun 3, 2020

The title of my answer is General Liability Rating: How Does It Work?

My answer's reference is The Balance

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