{"id":10074,"date":"2011-07-12T08:48:58","date_gmt":"2011-07-12T08:48:58","guid":{"rendered":"http:\/\/192.168.1.14\/index.php\/2011\/07\/12\/whether-iv-insurance-can-save-premium-in-hull-insurance\/"},"modified":"2025-09-01T01:21:52","modified_gmt":"2025-08-31T17:21:52","slug":"whether-iv-insurance-can-save-premium-in-hull-insurance","status":"publish","type":"post","link":"https:\/\/andrewliu.com.hk\/zh\/whether-iv-insurance-can-save-premium-in-hull-insurance\/","title":{"rendered":"Whether IV insurance can save premium in Hull insurance?"},"content":{"rendered":"

 \"pdf\" <\/span>ENG<\/a>   \"pdf\" <\/span>\u4e2d\u6587<\/a><\/p>\n

In Hull Insurance market, lot of ship owners realized they could save premium costs by using Increased Value (IV) cover in part of hull value.<\/p>\n

Theoretically, when total loss claim occurred, besides hull & machinery insurance, there would be some additional costs associated with replacing the lost vessel, including office expenses, the cost of repairs, spares etc. Hull IV Insurance should be able to fulfill the requirements to recover this “Excess Liabilities” and would give to the owner a safety margin in the event of the sound market value exceeds the hull insured value whereby the vessel would be underinsured.<\/p>\n

Practically, underwriter agrees to indemnity the agreed amount when the vessel was total loss according to the Hull insurance cover. The limit of Sum Insured up to the 25% of the hull insured value would be allowed in London market. (e.g. Ship Value $20 million, H&M cover with Insured Value of $16 million and IV cover with Insured Value of $4 million)<\/p>\n

Increased Value cover is restricted to “Total Loss” only. Hull IV premium rate should be less than half of her full cover hull insurance rate due to the total loss element applied. Therefore, let say H&M rate is 1% and IV rate is 0.4% as above example. The premium of H&M would be $16 million x 1% + $4 million x 0.4% = $176,000. In other way without IV cover, the premium would be $20 million x 1% = $200,000.<\/p>\n

Of course, underwriter has the right to adjust the premium rate if Insured Value be reduced.<\/p>\n

Should you have any enquiry, please feel free to contact with us.<\/p>\n

Related Clause: 
Institute Time Clauses \u2013 Hulls Disbursements and Increased Value (Total Loss only, including Excess Liabilities)<\/p>\n

See attached file : ALCO Circular 20110021 Whether IV Insurance can save premium in Hull Insurance.pdf<\/p>\n

 <\/p>\n

\u589e\u503c\u4fdd\u5355\u53ef\u5426\u4e3a\u8239\u4e1c\u8282\u7701\u8239\u58f3\u9669\u4fdd\u8d39?<\/span><\/strong><\/span><\/h1>\n

\u5728\u8239\u58f3\u9669\u5e02\u573a\uff0c\u5f88\u591a\u8239\u4e1c\u5229\u7528\u589e\u503c\/\u8d85\u652f\u4fdd\u5355\uff08\u7b80\u79f0IV\uff09\u4f5c\u4e3a\u51cf\u5c11\u4fdd\u8d39\u652f\u51fa\u7684\u5de5\u5177\u3002<\/span><\/p>\n

\u7406\u8bba\u4e0a\uff0cIV\u4fdd\u5355\u662f\u4e3a\u4e86\u5728\u8239\u8236\u53d1\u751f\u5168\u635f\u65f6\uff0c\u9664\u8239\u8236\u672c\u8eab\u4ef7\u503c\u5916\uff0c\u5f25\u8865\u989d\u5916\u652f\u51fa\uff0c\u4f8b\u5982\u7ef4\u4fee\u3001\u914d\u4ef6\u7b49\uff0c\u8fd8\u6709\u53ef\u4e3a\u8239\u4e1c\u51cf\u5c11\u56e0\u8239\u4ef7\u5347\u503c\u800c\u9020\u6210\u4fdd\u5355\u4fdd\u989d\u4e0d\u8db3\u7684\u95ee\u9898\u3002<\/p>\n

\u5b9e\u9645\u4e0a\uff0c\u4f26\u6566\u4fdd\u9669\u4eba\u4f1a\u540c\u610f\u8239\u4e1c\u8d2d\u4e70\u4e0d\u8d85\u8fc7\u8239\u58f3\u9669\u4fdd\u9669\u4ef7\u503c25%\u7684IV\u4fdd\u5355\u4ee5\u5f25\u8865\u635f\u5931\u3002(\u4f8b\u5982\uff1a\u8239\u8236\u4ef7\u503c$20,000,000,\u8239\u58f3\u9669\u4fdd\u9669\u4ef7\u503c\u4e3a$16,000,000\uff0c\u800cIV\u7684\u4fdd\u9669\u4ef7\u503c\u5e94\u4e3a$4,000,000).<\/p>\n

\u589e\u503c\u4fdd\u969c\u53ea\u5728\u5168\u635f\u65f6\u751f\u6548\u3002\u6b63\u56e0\u5982\u6b64\uff0cIV\u7684\u8d39\u7387\u5e94\u8f83\u4e00\u5207\u9669\u8d39\u7387\u4fbf\u5b9c\u4e00\u534a\u4ee5\u4e0a\u3002\u5728\u4e0a\u8ff0\u793a\u4f8b\u4e2d\uff0c\u5982\u679c\u8239\u58f3\u9669\u7684\u8d39\u7387\u4e3a1%\uff0cIV\u7684\u8d39\u7387\u4e3a0.4%\uff0c\u90a3\u4e48\u8d2d\u4e70\u4e86IV\u7684\u60c5\u51b5\u4e0b\uff0c\u603b\u4fdd\u8d39\u4e3aUSD 176,000\uff0c\u800c\u53ea\u8d2d\u4e70\u8239\u58f3\u9669H&M\u7684\u603b\u4fdd\u8d39\u4e3aUSD 200,000.<\/p>\n

\u5f53\u7136\uff0c\u4fdd\u9669\u4eba\u6709\u6743\u56e0\u4fdd\u9669\u4ef7\u503c\u7684\u53d8\u5316\u800c\u5bf9\u8d39\u7387\u505a\u51fa\u8c03\u6574\u3002<\/p>\n

\u5982\u679c\u60a8\u6709\u4efb\u4f55\u76f8\u5173\u54a8\u8be2\uff0c\u8bf7\u4e0e\u6211\u4eec\u8054\u7cfb\uff01<\/p>\n

\u8be6\u7ec6\u4fe1\u606f\u8bf7\u53c2\u9605\u9644\u4ef6\u3002<\/p>","protected":false},"excerpt":{"rendered":"

  ENG    CHN In Hull Insurance market, lot of ship owners realized they could save premium costs by using Increased Value (IV) cover in part of hull value. Theoretically, when total loss claim occurred, besides hull & machinery insurance, there would be some additional costs associated with replacing the lost vessel, including office expenses, the cost […]<\/p>","protected":false},"author":3,"featured_media":9071,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[125],"class_list":["post-10074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-circulars","tag-english"],"_links":{"self":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts\/10074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/comments?post=10074"}],"version-history":[{"count":1,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts\/10074\/revisions"}],"predecessor-version":[{"id":20588,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts\/10074\/revisions\/20588"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/media\/9071"}],"wp:attachment":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/media?parent=10074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/categories?post=10074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/tags?post=10074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}