Question

What is the approach of some countries regarding the freedom of rating and handling claims for larger vessels?

a.

They follow the Joint Hull Formula

b.

They are not concerned about the rating and claims processing of larger vessels

c.

They do not insure larger vessels

d.

They follow their own set of rules and regulations

Posted under IC85 Reinsurance Management

Answer: (a).They follow the Joint Hull Formula Explanation:Some countries have been able to achieve the freedom of rating and handling claims for larger vessels, but their approach in the matter is kept under review, and reinsurers, especially in the London market, like to be reassured that the Joint Hull Formula will be followed.

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Q. What is the approach of some countries regarding the freedom of rating and handling claims for larger vessels?
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