Annual H&M insurance premium estimate from hull value, deductible and ship-type risk class - the basic Lloyd’s quotation input.
Formula
$$ P = V \cdot r - \text{deductible credit} $$
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| $V$ | Hull value | USD | valuation |
| $r$ | Annual rate | % | market / broker quote |
Sources
- Lloyd’s Market Association.