Which rating plan uses no books or tables and is unique to individual risks?

Judgment rating is a method that assesses the insurable risks of an individual policyholder based on the underwriter's expertise and experience. This approach does not rely on predetermined books or tables, making it unique compared to other rating plans. The underwriter evaluates specific characteristics of a risk, such as its unique circumstances, history, and any other relevant factors that could affect its insurability and potential loss.

In this model, there’s a high degree of subjectivity, as each risk is judged on its own merits rather than according to standard classes or categories. This makes judgment rating particularly useful for non-standard risks that cannot be easily classified into a manual rate or rely on statistical data, ensuring that each rating is tailored specifically to the unique aspects of the individual risk involved.

On the other hand, manual/class rating relies on established tables and classifications to determine rates, while merit rating and experience rating adjust premium costs based on an insured's loss history or other factors but still within a more structured framework than judgment rating.