United Kingdom version
How it works
Reproduce an insurer-provided rating basis without inventing a market rate or a business classification.
This is the United Kingdom planning view, with monetary inputs and outputs in GBP. A currency label does not establish that a tax rate, construction price, coverage rule or legal limit has been verified locally. The inputs and limitations below describe the actual scope.
Input query strings and outputs
Use an input name in this page’s URL as ?name=value, and join additional inputs with &. Portable shared links may instead use the compact ?ac= state parameter.
Input query strings
6-
?ratedRevenue=Revenue within the quoted rating basisMoney · Required · Default: 250,000
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?ratePerThousand=Insurer quoted price per 1,000 revenueMoney · Required · Default: 3
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?ratedEmployees=Employees within an additional quoted basisNumber · Required · Default: 0
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?ratePerEmployee=Quoted additional price per employeeMoney · Required · Default: 0
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?minimumPremium=Quoted minimum premiumMoney · Required · Default: 500
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?fees=Explicit policy feesMoney · Required · Default: 0
Outputs
3-
revenuePremiumRevenue-based quoted componentCurrency · Currency: GBP
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employeePremiumEmployee-based quoted componentCurrency · Currency: GBP
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premiumPremium under the entered quote basisCurrency · Primary output · Currency: GBP
Formula
premium = maximum(quoted minimum, revenue/1,000 × quoted rate + rated employees × quoted employee rate) + fees.
Calculations retain numeric precision internally. Displayed values are rounded for readability. Quantities that must be purchased as whole units are rounded up only where the formula explicitly requires it.
Read the inputs before calculating
- Revenue within the quoted rating basis: Enter the quantity described by the label.
- Insurer quoted price per 1,000 revenue: Enter the quantity described by the label.
- Employees within an additional quoted basis: Enter the quantity described by the label.
- Quoted additional price per employee: Enter the quantity described by the label.
- Quoted minimum premium: Enter the quantity described by the label.
- Explicit policy fees: Enter the quantity described by the label.
Reproducible worked example
The following is a fictional arithmetic example, not a local quote, a verified claimant or a market forecast. Its values are included so the formula can be checked. The form does not automatically confirm any verification checkbox.
| Input | Example value |
|---|---|
| Revenue within the quoted rating basis | 250,000 |
| Insurer quoted price per 1,000 revenue | 3 |
| Employees within an additional quoted basis | 0 |
| Quoted additional price per employee | 0 |
| Quoted minimum premium | 500 |
| Explicit policy fees | 0 |
| Output | Calculated result |
|---|---|
| Revenue-based quoted component | GBP 750 |
| Employee-based quoted component | GBP 0 |
| Premium under the entered quote basis | GBP 750 |
Interpreting a changed assumption
Start with one complete scenario and change only one input when diagnosing a difference. Recheck units, the period of every rate, whether an amount is recurring or one-off, and whether a cost is already included elsewhere. A larger calculated benefit is not evidence that an assumption is more likely to occur.
Limitations
- Use actual policy wording, quotes and jurisdiction-specific requirements. This is a planning worksheet, not a coverage recommendation, insurer quote or determination of a payable claim.
- Use both bases only where the insurer actually combines them. Audit adjustments, occupation, claims history, territorial risk, exclusions and premium taxes are not inferred.
Frequently asked questions
What does this Business Liability Quoted-Rate result represent?
Reproduce an insurer-provided rating basis without inventing a market rate or a business classification. It applies the displayed formula to your inputs; it does not infer omitted facts.
Are the starting amounts verified United Kingdom prices or legal rules?
No. Numeric defaults are illustrative unless an input or dated reference explicitly identifies a researched component. Currency is GBP; local quotes, eligibility and unsupported rules must be entered and verified separately.
What must I check before relying on the result?
Use actual policy wording, quotes and jurisdiction-specific requirements. This is a planning worksheet, not a coverage recommendation, insurer quote or determination of a payable claim.
Can I compare or share different assumptions?
Change one assumption at a time and use the browser-local project or share controls. A shared URL contains the encoded input values; do not include information you do not wish to disclose.
Sources and reference scope
- NAIC consumer insurance resources — retrieved 2026-09-24. US coverage education. Not a quote, underwriting table or a substitute for another country’s regulator.
- NAIC insurance glossary — retrieved 2026-09-24. Terminology only; policy wording and local law govern actual coverage.
These references support only their stated scope. They are not evidence that every local rule or price needed by the master expansion has been loaded.