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Insured Finance
  • Insured Finance - Documentation
  • Welcome
    • Glossary & Appendices
  • Understanding Insured Finance
    • Things our users can do
    • Things our users are responsible for
    • The Token
    • Common misconceptions
    • Terms and Conditions
  • How-to Guides
    • Create a New Listing (Request or Offer a Cover)
      • Create a cover request listing
      • Create a cover offer listing
    • Take a Listing (Buy or Provide a Cover)
      • Take an Offer (Buy an Insurance Cover)
      • Take a Cover Request (Provide an Insurance Cover)
    • My Listing
      • My Request
        • Premium Refund for All Covers
        • Premium Refund for Individual Cover
        • File a Claim (Cover Request Listing)
        • View Claims, Claim Payout, and Claim Check the Cover Request page (Stablecoins example)
      • My Offer
        • Deposit Refund for Individual Cover
        • Deposit Refund for All Covers
    • Taken Listing
      • Taken Offer
        • File a Claim (Taken Offer)
      • Taken Request
      • Premium Claims (Earn Premium)
      • Deposit Refund
    • Token Bridge
  • Premium Fee and Listing Fee
    • Premium Rate
    • Listing Fee
  • Claim Monitoring Period and Payout
    • Claim Monitoring Period & Claims Payout - V1
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  • Inputs
  • Formulae

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  1. Premium Fee and Listing Fee

Premium Rate

To derive the final Cover Price, the cover amount and cover period are taken into consideration. The cover amount and cover period are specified by the user. The inputs are listed below.

Inputs

  • Cover quantity The cover amount is specified by the policyholder or provider.

  • Cover period Length of the cover period specified by the policyholder or provider (in months).

  • Annual insurance cost The real rate for an annual insurance cover that the policyholder would pay

  • Chosen premium fee The policyholder or provider can choose the premium fee as they wish. However, listings without reasonable premium fees will be unlikely to be taken up by other market participants

Formulae

  • Premium Fee = both the provider and the policyholder can set the premium fee freely when creating a new insurance cover request or offer.

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Last updated 3 years ago

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