What types of risks are usually included in the same class rating?

The correct choice is based on the principle that risks grouped within the same class rating typically exhibit similar characteristics, particularly in terms of loss experience. This commonality facilitates the assessment of potential claims and helps insurers to set premiums that adequately reflect the risk involved.

When risks have similar loss experience, it indicates that they are likely to face comparable threats, exposures, and claims histories, which is essential for developing an accurate risk profile. Grouping these risks together allows for more consistent premium calculations, as the insurer can rely on past performance data to predict future losses and set rates based on that collective experience.

In contrast, risks with diverse underwriting requirements or those representing different policy types may not offer a coherent basis for classifying premiums under the same rating. Similarly, risks with varying geographic distributions may involve different environmental or economic factors that affect loss potential, making it challenging to appropriately price them under a unified classification system.