Maintain Business Stamps

2 minute read

This is where you register the pre agreed apportionment between entities/ syndicates owned/ managed by the same company. The same Business Stamp can be assigned to multiple Joint Contracts.

Create a new Business Stamp:

From SICS desktop select Reference Items
Select Business Stamps and open in edit mode
Select Add Stamp from the pop-up menu
Enter Stamp Identifier and Valid Period
Select Add from the pop-up menu to register insurer/ reinsurer
Enter business partner ID or use the Find facility to select wanted insurer/ reinsurer
Tick off Administrator if selected business partner is the insurer/ reinsurer of the lead contract
Enter insurer’s/ reinsurer’s Share
Press Save
Repeat points 5-9 to add more insurers/ reinsurers
When Total share is 100%, press Save to save the new Business Stamp
Press OK

Change Business Stamp Details

Update business Stamp with new details:

From SICS desktop select Reference Items
Select Business Stamps and open in edit mode
Click on last Valid Period and select Edit Stamp Values the pop-up menu
Change details, e.g. Valid Period and/ or Stamp Identifier
Highlight an insurer/ reinsurer and select e.g. Edit from pop-up menu
Change insurer’s/ reinsurer’s share and press Save
As total share must be 100%, point 5 and 6 must be repeated on another insurer/ reinsurer
Press Save
Press OK

Renew Business Stamp:

Add a new Valid Period to an existing Business Stamp:

From SICS desktop select Reference Items
Select Business Stamps and open in edit mode
Highlight Business Stamp to be renewed and select Renew stamp from the pop-up menu
Enter Valid Period To Date
If wanted, change the apportionment between entities/ syndicates
Press Save

Delete Business Stamp:

Remove a Business Stamp/ Valid Period not in use on any business:

From SICS desktop select Reference Items
Select Business Stamps and open in edit mode
Highlight Business Stamp to be removed and select Delete from the pop-up menu. If selected Stamp have multiple Valid Periods, last period can be deleted by highlighting the Valid period and select Delete Stamp Values from the pop-up menu.
Press Save

Field Description - Business Stamps

Field	Description
*Stamp Identifier:*	Manually given stamp name. Stamp identifier is not unique. Values: Free text field. Maximum number of characters: 30 Functional Impact: None Applicable for: P&C, SICS Cede
*Start Date:*	First dy of Business Stamp’s valid period Values: Date Validations: Valid Period Start Date < Valid Period End Date Functional Impact: Business Partner Assignment on Joint Contract Applicable for: P&C, SICS Cede
*End Date:*	Last day of Business Stamp’s valid period Values: Date Validations: Valid Period End Date > Valid Period Start Date Functional Impact: Business Partner Assignment on Joint Contract Assumed placements on Joint Contract Applicable for: P&C, SICS Cede
*Reinsurer:*	Company participating in with a pre-agreed portion in a business stamp arrangement Values: Business partner name Validations: Only Base Companies are selectable Functional Impact: Business Partner Assignment on Joint Contract Assumed placements on Joint Contract Applicable for: P&C, SICS Cede
*Share:*	Participating reinsurer’s portion of the business stamp arrangement (UA Share %) Values:_ Numbers Number of decimals: 2 Validations: Maximum value: 100,00 Minimum value: 0,01 Total Share for all reinsurers cannot exceed 100,00% Functional Impact: On assumed placements: Share Condition values Premium and Limit Condition Manual Accounting Automatic Accounting Claims handling Proportional Facultative Protections Applicable for: P&C, SICS Cede
*Is Administrator:*	Indication whether reinsurer is the administrator of the business stamp arrangement or not Values: Yes/ No Validations: One of the reinsurers assigned to the business stamp must be indicated as Administrator Functional Impact: On assumed placements: Business Partner Assignment Claims Handling Applicable for: P&C, SICS Cede