Class (or Classification). A group of insureds having the same characteristics and who are, therefore, grouped together for rating purposes. Class rates apply to dwellings and apartments, since they usually have the same characteristics and are exposed to the same perils. (G) Clause. A section of a policy contract or endorsement dealing with a particular subject. For instance, a Subrogation Clause deals with the rights of the insurer in the event of payment of a loss under the contract. (G) Close Corporation. A corporate form of business controlled and operated by a small, close group of persons such as family members. The corporation's stock is not sold to outsiders. (G) Coding. A method of putting information into a numerical form for statistical use. Most information on policies is coded and then put into reports. (G) stupsertod, stupgr1, stup19site