Question

What is the Joint Hull Formula?

a.

A formula used by marine underwriters to determine premium rates

b.

A formula used by marine reinsurers to determine premium rates

c.

A formula used by marine underwriters and reinsurers to determine premium rates

d.

A formula used by marine insurers to determine premium rates

Answer: (c).A formula used by marine underwriters and reinsurers to determine premium rates Explanation:The Joint Hull Formula is important to marine reinsurers, particularly those in the London market, and they like to be reassured that it will be followed. Both marine underwriters and reinsurers use specialized types of cover, that uses Joint Hull Formula.

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Q. What is the Joint Hull Formula?

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