Wind-Mitigation Credit
Apply wind-mitigation credits subject to a caller-supplied cap.
Description
Wind-mitigation premium credits can be limited by a combined cap.
Wind-mitigation premium credits can be limited by a combined cap. This model adds individual percentage credits before applying that cap.1
Apply wind-mitigation credits subject to a caller-supplied cap.
When to use Wind-Mitigation Credit
Use this tool to apply wind-mitigation credits subject to a caller-supplied cap.
Prepare the supplied policy terms, dates, assumptions or recorded indicators requested. Keep monetary amounts on one currency basis and select the applicable thresholds separately.
How to use Wind-Mitigation Credit and understand its results
- Prepare the supplied policy terms, dates, assumptions or recorded indicators requested. Keep monetary amounts on one currency basis and select the applicable thresholds separately.
- Enter basePremium, mitigationCreditPercents, maximumCombinedCreditPercent using the field table and calculation rules, then run the tool.
- Read rawCombinedCreditPercent, appliedCreditPercent, premiumCredit, mitigatedPremium. The explanation below defines the units, signs, ordering and any flags or placeholder values.
- If the tool reports an input issue, correct the values and run it again. Apply the stated assumptions when interpreting a successfully returned result.
| Input field | Meaning | Value type; see rules below | Requirement |
|---|---|---|---|
| basePremium | Base premium | number; minimum: 0 | Required |
| mitigationCreditPercents | Mitigation credits (%) | list of number | Required |
| maximumCombinedCreditPercent | Maximum combined credit (%) | number; minimum: 0; maximum: 100 | Required |
Enter nonnegative premium and credits, with cap 0–100. Empty credits sum to zero. Return raw/applied percentages, discount amount and remaining premium.
raw=Σcredits; applied=min(raw,cap); discount=base×applied/100 Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.
| Output field | Meaning | Value type |
|---|---|---|
| rawCombinedCreditPercent | Raw combined credit (%) | number; minimum: 0 |
| appliedCreditPercent | Applied credit (%) | number; minimum: 0; maximum: 100 |
| premiumCredit | Premium credit | number; minimum: 0 |
| mitigatedPremium | Premium after credit | number; minimum: 0 |
{
"input": {
"basePremium": 2000,
"mitigationCreditPercents": [
5,
10,
8
],
"maximumCombinedCreditPercent": 20
},
"output": {
"rawCombinedCreditPercent": 23,
"appliedCreditPercent": 20,
"premiumCredit": 400,
"mitigatedPremium": 1600
}
}Limitations and assumptions
No mitigation inspection, insurer discount schedule or compounding of credits is performed.
Numeric inputs must be finite. Follow the calculation-specific rules for overflow, underflow and exceptional cases. Lists are limited to 100,000 entries; the rules above may require smaller limits. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors.
Alternative or Complementary methods
Use Leak-Device Discount: Calculate leak-device premium discount and simple annual benefit. For a complementary task, use Flood Elevation Margin: Compare lowest-floor elevation with base flood elevation and required freeboard.
References
-
Wind-Mitigation Credit — tool.io
Similar or alternative tools
- Leak-Device Discount
Calculate leak-device premium discount and simple annual benefit.
- Flood Elevation Margin
Compare lowest-floor elevation with base flood elevation and required freeboard.