General Liability Insurance.

General Liability Insurance.
Important improvements in the rating of general liability insurance, approved in December by the New York Superintendent of Insurance, centered around a method of experience-rating general liability insurance coverages as a whole rather than separately, and a composite rating plan for liability insurance other than automobile. Taken together, these two steps will make the rating of these coverages much more practical for the average insured. In effect, the plans tailor the rating procedures to the coverage provided under comprehensive liability policies.
The effective date of the new program will be around March 1, 1950, and in the meantime the casualty-rating bureaus are adapting the New York innovations for filing in other states. In this connection, it was being emphasized that, for the first time in New York State, recognition was given to interstate aspects of liability insurance by providing that the experience of the risk in all states shall be used in rating New York risks, with minor exceptions.