Restrict Underwriting by Class of Business

5.2. Restrict Underwriting by Class of Business

Your company may have several base companies in different countries around the world. These base companies may operate in different markets and underwrite different classes of business. In this case, it is not convenient for an underwriter, that only has 10 classes of business, to search through all 200 classes of business defined for the entire organisation.

By defining relevant classifications per base company, only the selected classifications are available when setting up new contracts.

Register relevant classifications for a base company:

  1. Find and open the base company and select the Details tab
  2. In the Properties column, select MCOB / COB/ SCOB business partner details
  3. In the Reference column, select Edit from the pop-up menu
  4. Double click on Main Class of Business and move wanted items from the Available to Selected
  5. Select Close
  6. If wanted, repeat point 4 for Class of Business and Sub Class of Business
  7. Select OK

Field description 1. Restrict Underwriting by Class of Business

Field Description
Main Class of Business The major lines of business that a contract can cover when this base company is the reinsurer, insurer/co-insurer or retrocessionaire.
Values: Customized by your company, e.g.

Aviation, Marine, Property, Motor, Life etc

Validations: Multiple values allowed

Mandatory: No

Functional Impact: Create new business
Class of Business The general insurance classifications that a contract can cover when this base company is the reinsurer, insurer/co-insurer or retrocessionaire.Values: Customized by your company, e.g.

Aviation Aircraft Hull, Marine Cargo, Fire Insurance, Motor Cargo, Health etc.

Validations: Values only available when Main Class of Business is selected

Multiple values allowed

Mandatory: No

Functional Impact: Create new business
Sub Class of Business Further specifies the general insurance of Business classification that a contract can cover when this base company is the reinsurer, insurer/co-insurer or retrocessionaire_Values:_ Customized by your company, e.g.

Aviation Hull Helicopters, Motor Cargo New, Business Interruption, Group Life, etc.

Validations: Values only available when Class of Business is selected.

Multiple values allowed

Mandatory: No

Functional Impact: Create new business