/categories/PC/ Recent content in P&C on Hugo -- gohugo.io /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/create_and_define_portfolio_prog/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/create_and_define_portfolio_prog/ The Multi GAAP module consists of several components. First there is a level of business called Portfolio Program. With the Portfolio Program you can structure your business and group it into portfolios. This is done by assigning individual sections of the assumed business to a hierarchical structure of the Portfolio Program. The hierarchical structure of the Portfolio Program is built using the section structuring facility. The reason for using the Portfolio Program is to: /sicsdocs/user_guide/pc/edi/edi_and_sics/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/edi_and_sics/ The Reinsurance market increasingly uses electronic methods to transfer data between business partners. This not only increases the speed at which data can be transmitted but also improves accuracy by avoiding hand written documents. High volumes of transactions can be simply and efficiently distributed using EDI (Electronic Data Interchange) messages, and SICS includes an EDI interface to allow you to receive and validate them. If a message checks out, then it can automatically update SICS. /sicsdocs/user_guide/pc/business_life_span/find_business/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/find_business/ You may have received a new offer that should be recorded and need to check that it is not already in the system, or you want to find an existing agreement that you need to update. Whatever the reason might be, the starting point of underwriting functions is typically finding a business. The Find Business feature in SICS offers a variety of searches, all from quick searches for specific businesses to more advanced searches. /sicsdocs/user_guide/pc/claims/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/introduction/ SICS lets you register and search for detailed claims information. The Claims folder on the SICS desktop includes four icons: Claims, Claim Groups, Claim Programs and Headline Loss. Claims in SICS must be linked to at least one business, and can be linked to more than one business and/or section. All Claims therefore consist of two “levels”: One level being general for all the linked sections, and the other level being specific for one section only. /sicsdocs/user_guide/pc/analyse_business/quick_overview/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/analyse_business/quick_overview/ View Business Highlights # When you open up a business, you see the Properties window. The Properties window lets you find out more detailed information about a business, and is also the window from which you can add more detailed information when registering a business. As mentioned earlier, you can access the Properties window by: Selecting a business from the Business display list by double-clicking it. Selecting a business in the Business display list and selecting Properties from the pop-up menu. /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates_on_iab/period_estimates/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates_on_iab/period_estimates/ You can create period estimations on individual Assumed Business by using the Multi GAAP functionality. In SICS, you access the functionality by clicking the ES-button in the Business Properties window. When you click the ES-button, SICS opens the Underwriters Estimates window. On this window you see the Period Estimate tab, which enables you to maintain your estimations. (You specify the estimation items that appear on the Period Estimation tab on the Multi GAAP tab in the system parameters-System Administration folder/System Parameter Maintenance) For each of the Estimation Items estimates are calculated from rules that are specified with the Estimation Items. /sicsdocs/user_guide/pc/maintain_mg_estimates/retrocession/period_estimates_on_prop_occ/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/retrocession/period_estimates_on_prop_occ/ How the Period Estimates on Proportional OCCs are populated, depends on Multi GAAP system parameter Period Estimation Calculation on Prop Outward Contracts A: When system parameter Period Estimation Calculation on Prop Outward Contracts is cleared The Period Estimates on a Proportional OCC are fed by the estimations of the protected Assumed Business. You get an overview of these estimations on the Period Estimates tab of the Proportional OCC. (Click the button on the Navigation bar of the OCC to access the Underwriters Estimates window. /sicsdocs/user_guide/pc/bp/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/introduction/ Companies that you have a direct or indirect business relation with are in SICS handled as Business Partners. A direct relation is for example the one you have with a cedent or a broker, whereas an indirect relation is the one you have with an insured or a bank handling the money transactions. SICS lets you register and handle detailed and comprehensive information about your existing and potential partners. /sicsdocs/user_guide/pc/business_insurables/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_insurables/introduction/ A reinsurance company often finds itself insuring the same principal risks again and again through multiple reinsurance/insurance contracts. Whether these risks are single objects, like buildings or vessels, or they are risks of catastrophe, like earthquake in a certain zone, it is important to keep track of their cumulative effect and to know as much as possible about them individually. SICS offers a detailed catalogue of both insurable object information and peril of zone information, as well as a facility for controlling the exposure to these. /sicsdocs/user_guide/pc/emessaging/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/introduction/ This document describes how to use the eMessaging module to import and process ACORD RLC xml messages. /sicsdocs/user_guide/pc/maintain_mg_estimates/retrocession/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/retrocession/introduction/ The estimation bookings made on the Assumed Business are automatically transferred to the OCC as Original bookings. This is normal SICS functionality. In addition to this you can make adjustments to the estimations that come from the Assumed Business. These adjustments can be made at the OCC and at the Retrocessionaire level. This works only for Proportional OCC’s. Non-Proportional OCC’s has no direct connection to Assumed Business. Consequently there are no estimation bookings that are transferred automatically to the Non-Proportional OCC’s. /sicsdocs/user_guide/pc/managing_general_underwriting/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/managing_general_underwriting/introduction/ MGU Frame Agreements can be created and maintained as part of Business Partner Details for Business Partners marked as Paper Provider. Each agreement is linked to one Base Company (MGU). As part of the premium bookings on the risk, the applicable MGU Frame Agreement is selected behind the scene, based on matching of the accounting classification and the classification of the MGU Frame Agreement. MGU Commission is calculated based on this matching /sicsdocs/user_guide/pc/mg_acc/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/mg_acc/introduction/ The estimations at the portfolio and business level are usually booked when preparing the book closing. An automatic calculation order called “Multi GAAP Accounting Order” does the booking of the estimates. The order does two things: Books the estimates either on the business or portfolio ledger depending on where the estimates are entered. The booked estimates are also created as status As original on the ledger of an OCC if the business or portfolio program is connected to a Proportional OCC. /sicsdocs/user_guide/pc/search/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/search/introduction/ SICS Search is a global searcher that search multiple SICS sources at once, such as Business Partner Claim Worksheet etc… If SICS Search is setup in conjunction with Apache Solr, external documents can also be used as source. Supported formats for external documents is listed below. Microsoft Word Document (DOC) Microsoft PowerPoint (PPT) Microsoft Excel (XLS) Office Open XML Document (DOCX) Office Open XML Presentation (PPTX) Office Open XML (XLSX) Portable Document Format (PDF) Text Document (TXT) SICS Search is NOT enabled by default. /sicsdocs/user_guide/pc/task_management/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/task_management/introduction/ The SICS Task Management Module provides a process and task oriented way of working in SICS. You can configure your own process templates, from which actual processes can be created. How to create a new a process template is described in the System Administration Guide / Set Up Task Management. A process will contain one or more tasks, each task being a well-defined piece of work to be carried out by one SICS user. /sicsdocs/user_guide/pc/accounting/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/introduction/ The accounting functionality in SICS lets you enter, store and retrieve relevant accounting information. All accounting information related directly to agreements (business), such as premium, commission, losses, reserves, deposits, are entered on Technical Worksheets. All accounting information directly related to a claim is entered on a Claim Worksheet. All payments between you and your partners are entered on Remittance Worksheets. To retrieve and view existing accounting information for a business you can open the Business Ledger. /sicsdocs/user_guide/pc/reporting/introduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/introduction/ SAP BusinessObjects is the reporting tool for SICS, and the reporting environment has been set up to reflect the structure of SICS. The reporting environment is made up of universes describing the data in the database in more “everyday terms” by using a terminology of classes and objects. Since the database is quite extensive, a main universe covers the major part of the database for each system, while a number of smaller universes take care of the remaining part. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/navigate/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/navigate/ Most of the examples in this chapter are based on Proportional Treaty business. In SICS, most terms and conditions of an agreement are opened by clicking buttons on the navigation bar in the Business Properties window. The buttons that you see depend on the type of business that you have opened. Not all of the buttons are relevant for all businesses, so only the ones that apply appear. Each button is identified with one or two characters plus a “tool-tip,” which describes the icon when you place the mouse pointer over it (but do not click). /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/np_recovery_system/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/np_recovery_system/ SICS lets you automatically calculate Recoveriesby using the Non-Proportional Recovery System. Recoveries can be calculated on following levels: Protection Program, Single Outward Cedent’s Contract, XL CA Of Outward and Non-Proportional Facultative Protection. A simplified recovery calculation can also be made for proportional treaty Outwards Cedent’s Contract of type US Quota Share. For Single OCC’s and OCC’s being linked to a Protection Program, system also calculates recovery on Sub Sections. The system will calculate recovery on the lowest Sub Section level of the OCC that matches the inward claim’s scope of cover. /sicsdocs/user_guide/pc/protect_reinsurance/overview/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/protect_reinsurance/overview/ As a reinsurer, you sometimes purchase reinsurance protections for individual agreements or on a more global, corporate basis for certain classes of business(for example, worker’s compensation) or exposures (such as windstorms). SICS lets you register those protections at detailed levels. After you define the classification of all the protected businesses in a protection program (SICS’s term for a retrocession), you can establish the Outward Cedent’s Contract (OCC). The OCC can also be established independently in SICS, and can be made up of the placements with retrocessionaires either on a direct basis, or through an intermediary. /sicsdocs/user_guide/pc/structure_multiple_contracts/overview/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/overview/ A reinsurance company assumes liability in business offered from various cedents throughout the world. SICS lets you register those businesses at detailed levels. This chapter gives you an overview of how to structure the assumed businesses to ease the daily work. /sicsdocs/user_guide/pc/prop_retro_accounting/overview/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/overview/ Proportional Retrocession Accounting in SICS lets you do automatic calculation and booking of figures to be retroceded to an Outward Cedent’s Contract (OCC) and the Retrocessionaire’s Participation (ORP) of the OCC. To be able to do Proportional Retrocession Accounting, an OCC protecting an Assumed Business (AB) must be created. The Insured Period From date of the AB must be included in the Insured Period of the OCC. One or more RPs must be defined on the OCC and the OCC’s Placement List must be complete. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_risk_prot_per_event_limit/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_risk_prot_per_event_limit/ /sicsdocs/user_guide/pc/ref_items/ref_items_explanations/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/ref_items/ref_items_explanations/ Reference item handling in SICS is typically done by your SICS System Administrator. In some cases, security might be set to give certain end-users access to Reference handling. In those few cases a Reference Item folder appears on the SICS desktop, which includes icons for the following: Currency and Exchange Rates, Currency Transformation Terms Maintenance, Entry Code Transformation Terms Maintenance, Entry Code Maintenance, Locations, Reference Data Maintenance, Reporting Units, Risk Zones, and Lookup Tables (for SICS Life). /sicsdocs/user_guide/pc/co_insurance_accounting/tech_book_on_co_ins_agreem/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/co_insurance_accounting/tech_book_on_co_ins_agreem/ Technical Bookings on a Co-Insurance Agreement are made on the Insured’s Contract level of the Business When you make a booking on the Insured’s Contract, the system will also automatically book on the linked Assumed/Policy Ceded and Administrative Businesses according to each of these businesses Share of the Co-Insurance Agreement. Before any bookings can be made on the Insured’s Contract, the system checks that the Placement Complete is set to yes for the Insured Period on which you are trying to book (If not, the system gives you a validation message). /sicsdocs/user_guide/pc/getting_started/the_sics_desktop/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/getting_started/the_sics_desktop/ After SICS has been installed and set up by your system administrator, you can start the program from the Windows Start menu. When you open SICS, you see the SICS desktop. Login to the System # Action Description Login/Logout button You must be logged into the system before any of its windows can be accessed. The ‘Login/Logout ‘button logs you into and out of SICS. When you start SICS, the Login to SICS dialog is automatically presented, requesting your user name and password, and option of database from a drop-down list. /sicsdocs/user_guide/pc/co_insurance_accounting/adm_business_reinsurance_acc/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/co_insurance_accounting/adm_business_reinsurance_acc/ This section describeshow the co-insurers reinsurance of premium and claims is handled in the system when your company administer both the co-insurance and the reinsurance on behalf of the co-insurers. For more information on how to set up co-insurance structure when you company administers the co-insurers reinsurance on their behalf, refer to the chapter Set Up Co-Insurance Structure and Administer Reinsurance on behalf of Co-Insurers. The Administrative Business reinsurance accounting is based on the functionality of handling administration of co-insurance through bookings on Insured’s Contract level, from the moment when the closed worksheet (technical / claim) “lands” on the placements, including the generated reversed balances for the Administrative businesses. /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/assign_assumed_bus_to_portfolio_prog/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/assign_assumed_bus_to_portfolio_prog/ You can assign sections of an Assumed Business to the sections of the Portfolio Program in two different ways: Starting from a Portfolio Program, you can link one or several Assumed Businesses, alternatively one or more sections of one Assumed Business to the active section of a Portfolio Program. One section of an Assumed Business can only be linked to one section of a Portfolio Program. Starting from an Assumed Business, you can link the active section to a section of a Portfolio Program. /sicsdocs/user_guide/pc/reporting/bo_definitions/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/bo_definitions/ Universe # Is a BusinessObjects specific term that indicates a set of tables in a ‘space’, making reporting possible for a specific purpose. The tables in the universe are ‘mirrors’ or ‘shortcuts’ to the original tables in the SICS database which is viewed through the universe. The universe visualizes the relationship between the database tables. The Query Panel # The Query Panel is where you build your report queries. You can access the Query Panel by: /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates_on_iab/calc_period_estimates/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates_on_iab/calc_period_estimates/ The Period Estimates are calculated automatically when a new currency is added. The system then applies the Calculation Rules to all Estimation Items and displays the resulting values. Entries marked as overwritten are not calculated. If the calculated Period Estimates are ok (which should usually be the case) you do not have to change the calculation at all. If you change some of the values it might be necessary to recalculate the Period Estimates again. /sicsdocs/user_guide/pc/task_management/create_maintain_processes/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/task_management/create_maintain_processes/ There are several ways to create a new process in SICS: Pre-programmed logic in SICS workstation Web services Manually The two first possibilities are described in the System Administration Guide / Set Up Task Management. Process Owner # A process has a list of Potential Owners defined at the process level in the template the process was created from. When a process is about to be activated (set to In Progress status, which happens immediately when a process is created), there will be an attempt to assign a process owner. /sicsdocs/user_guide/pc/mg_acc/create_manual_bookings_in_relation_to_multi_gaap/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/mg_acc/create_manual_bookings_in_relation_to_multi_gaap/ Manual booking with regard to Multi GAAP is different from ordinary manual bookings because it has to take care of the different GAAP’s. How a booking is done depends on the figure to be booked. If the entry code and the amount are the same for all GAAP’s (which should be the case for all liquid bookings) only one booking line in the technical worksheet is needed: The booking period can be adjusted according to the GAAP. /sicsdocs/user_guide/pc/business_life_span/create_new_business/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/create_new_business/ Record New Business # Registering a contract for the first time is easy in SICS because the Create New Business wizard takes you step by step through the necessary windows. The first window that you see is always the same. It is here you select the level of business, type of business, and life cycle status of the contract. The second window depends on the level of business that you selected. /sicsdocs/user_guide/pc/structure_multiple_contracts/design_reinsurance_prog/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/design_reinsurance_prog/ Treaties offered from the same cedent often cover the same underlying portfolio and have some common factors. To efficiently handle these treaties and to get a good overview of these assumed businesses, SICS lets you register information common to these in a new reinsurance program. In this way, you can work with conditions and classifications common to participating Assumed Business on the Reinsurance Program. The Reinsurance Program and the belonging Assumed Businesses must have the same cedent and reinsurer (Base Company). /sicsdocs/user_guide/pc/protect_reinsurance/treaty_protection_prog/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/protect_reinsurance/treaty_protection_prog/ In addition to being an overview of all protections previously purchased for a base company, the Protection Program is also a tool for planning your protection needs at a high level. When you create a protection program for a base company, you start with registering all classifications on a top level, and depending on the planned structure, you can split the program into sections down to the level where you want to make outward cedent s’ contracts. /sicsdocs/user_guide/pc/getting_started/desktop_icons/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/getting_started/desktop_icons/ Accounting Folder # When you click the Accounting folder you see icons that take you to worksheets and ledgers for accounting. The Business Partner Ledger icon lets you search for business partners and the ledger opens automatically when you select a business partner. The Worksheet icon takes you to the Find: Worksheet window where you can search for and create different types of worksheets. And the Order icon takes you to the Find: Order window where you can search for and create accounting orders for automatic accounting. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/enter_new_conds/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/enter_new_conds/ When you open Condition windows for the first time, you are automatically in Edit mode. After you have entered data in a Condition window and open it again later, you are automatically in View mode. In that case, you must click the Edit button to switch from View to Edit mode. | Remember to click the Edit button if you want to change from View to Edit mode | You can open as many conditions as you want in View mode, but you can only edit one at a time | /sicsdocs/user_guide/pc/analyse_business/evaluate_business_for_renewal/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/analyse_business/evaluate_business_for_renewal/ As an underwriter you have some existing agreement that soon expires, and you need to look at them to evaluate what decisions you should take upon renewal. You need to have them all listed, and you need to have the possibility to see the most important and relevant information in a review. List Expiring Businesses # The pre-renewal list enables you to find and list all businesses that expire within a period, from a specific date or before a specific date. /sicsdocs/user_guide/pc/bp/find_bp/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/find_bp/ When you want to update a business partner or check if it already exist before registering a new one, you use the search functionality. Search for Business Partner by Name # Select the Partners icon on the SICS desktop. Select the Business Partners icon. You see the Find Business Partners window. On the Name tab, in the field Name, enter the name of the business partner you are looking for, or enter part of the name. /sicsdocs/user_guide/pc/claims/find_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/find_claims/ When you receive a claim advice, the first thing you do usually is check if the claim is already registered in SICS or if you must create a new claim. If you are not sure of which business the claim affects, you can use the Find Claims feature. The Find Claim feature allows you to search for existing claims in the system by using numerous extract criteria. The search criteria and result columns that are available in the Find Claims window partially depends on your access rights. /sicsdocs/user_guide/pc/managing_general_underwriting/find_paper_provider/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/managing_general_underwriting/find_paper_provider/ Search for a Paper Provider # In the Find Business Partner window it is possible to limit the search to Paper Providers by selecting the checkbox Paper Provider. When searching for a Paper provider whilst creating a new MGU Business, the checkbox Paper Provider is automatically selected Click on the Business Partner icon in the Partner folder on the desktop. You see the Find Business Partner window. On the Name tab select Paper Provider checkbox Click Find Now button /sicsdocs/user_guide/pc/business_insurables/business_insurables/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_insurables/business_insurables/ To evaluate the risks related to, for example, an offer or an existing agreement, it is important to be fully informed about the objects (like building/addressees, planes, or electronic equipment) it covers. SICS keeps detailed information on these objects, both the ones your company already is insuring or reinsuring and the ones that it could be insuring in the future. What information the system holds, depends on the type of object concerned. /sicsdocs/user_guide/pc/maintain_mg_estimates/retrocession/period_estimates_on_non_prop_occ/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/retrocession/period_estimates_on_non_prop_occ/ With respect to premiums, deductions, or any other items, a Non-Proportional OCC has no connection to Assumed Business. Estimations therefore cannot be driven from the estimations of any Assumed Business. To enter estimations on a Non-Proportional OCC follow the same procedures as for an Assumed Business. Note that it is not possible to attach an OCC to a Portfolio Program and therefore no default Period Estimates can be used to calculate the estimates. /sicsdocs/user_guide/pc/edi/import_edi_messages/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/import_edi_messages/ | Import EDI Messages icon | Refer also to EDI Batch Job in the System Administration Guide. Click the Import EDI Messages icon on the SICS desktop to see the Import EDI Messages window. | All messages that SICS understands can be read and loaded into the archive from this window. Batches to be imported are read from the Inbox Path folder. When the batch has been loaded successfully, it is moved to the Archive Path folder. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/include_claim_in_recovery_calc/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/include_claim_in_recovery_calc/ To specify that assumed claims should be included in the Recovery Calculation and at which level, there are three possible options: Headline Loss Link on Claim: You can link the assumed claim to a Headline Loss. The link is set up in the Assignment display list under Claim Properties. F or description of how to establish this link, refer to the_Claims Handling_ chapter,Assign Claim to Headline Loss section. The system accumulates all assumed claims linked to this Headline Loss and considers the total amount against the limits of the non-proportional protections. /sicsdocs/user_guide/pc/accounting/manual_bookings_on_ws/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/manual_bookings_on_ws/ When Reinsurance Company participates in a treaty or facultative protection, the company receives accounts from the ceding company including their share of premium, claims and other figures that their agreement includes. The figures of these accounts are manually entered onto Technical Worksheets in order to update the Ledger and Online Statistics of the Business to which the accounts apply. The Business Partner Ledger is also updated accordingly. Open a Technical Worksheet for a Business # | Technical Worksheet button on the Navigation bar. /sicsdocs/user_guide/pc/emessaging/prerequisites/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/prerequisites/ Before trying to use the eMessaging module, it is necessary to have the database configured correctly. See section ‘SICS eMessaging Setup’ under Technical Documents in the System Adminstration Guide for full instructions. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_per_event_or_per_risk_covers/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_per_event_or_per_risk_covers/ When the type of participation is a “Per Event or Per Risk” cover, all claims are accepted, regardless of their risk/event indicator. Recoveries are calculated per single claim, or risk claim. If a claim is linked to a Headline Loss, recoveries are calculated per risk name within the Headline Loss. Claims which are linked to a Headline Loss without a Risk Name, are calculated per Headline. /sicsdocs/user_guide/pc/search/search_functionality/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/search/search_functionality/ Apart from having a normal full text search functionality, SICS Search has the following search functionalities: Search by SICS ID Wildcard Search Phrased Criteria Search Fuzzy Search Search by SICS ID # To search by SICS ID you must submit the search term with (ctrl + enter) or by hovering the search icon and click Search by ID. It is also possible to perform a fuzzy search by SICS ID with (ctrl + shift + enter) or by hovering the search icon and click Fuzzy by ID. /sicsdocs/user_guide/pc/prop_retro_accounting/retro_calc_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/retro_calc_order/ For each account to be run for an Outward Cedent’s Contract (OCC), a Retrocession Calculation order has to be created. The following processes are performed when running the order: Preliminary (‘OCC as original’) bookings, not previously included in an account, are transferred and booked on the business ledger of the OCC in booking currency. If defined on the OCC, Entry Codes and/or Currencies and/or Classification Types are transformed before the business ledger in booking currency is updated. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/business_cond_validation/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/business_cond_validation/ Before an offer or quote can become an agreement, SICS controls that all the necessary terms and conditions have been entered. How much is mandatory to make a business definite depends on the set up of your system administrator. Regardless of set up however, a share is always mandatory for a definite agreement. Some conditions are not available unless your business has an insured period with specific dates. Note that a To be Advised insured period is only allowed if your System Administrator has se up the system for it. /sicsdocs/user_guide/pc/business_life_span/categorise_business/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/categorise_business/ SICS makes it easy for you to structure businesses by letting you add on to and edit information as you go along. You may, for example, want to: Edit the business classifications that you registered when the business was first created. Assign business partners to a business. Change insured periods, to name a few things. Handle Partner Roles # You can handle partner roles in SICS by assigning business partners, adding and editing business partners, and adding contacts to partners. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/conditions_on_occ/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/conditions_on_occ/ The system handles recovery calculations according conditions on the Outward Cedent’s Contract. Conditions on sub sections of the OCC are also considered. Calculation rules are outlined under each condition. For OCC’s being part of a Protection Program, it is a requirement that OCC’s linked to the same Protection Program Section have the same values for: Limit Condition: Main Currency Claim Condition: Claim Basis and Calculation Rule for Original Assumed Expenses Below is a list of important fields and the implication on the recovery calculation. /sicsdocs/user_guide/pc/claims/create_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/create_claims/ After having performed a search amongst the existing claims in the system, you might decide that you have to create a new claim record. Note that claims cannot be created on Pending or Declined Business. They must always be linked to a business that is either Informational or Definite. There are three different types of claims in SICS: Individual Interlocking Various Claims can be created in numerous ways in SICS - either by creating an entirely new claim “from scratch” or by using an existing claim as a template, and copy this to another business or another section. /sicsdocs/user_guide/pc/managing_general_underwriting/create_mgu_business_and_partner/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/managing_general_underwriting/create_mgu_business_and_partner/ Record a New MGU Business # Click on the Business icon on the Business folder on the desktop. You see the Find: Business window Click Create New button. On the Create New Business window the checkbox MGU is shown and is selected by default when Level Business is MGU and Type of Business is either non-proportional direct proportional direct non-proportional facultative proportional facultative Enter relevant information and press Next Assign Business Partners to a MGU Business # Mandatory Business Partners for a direct MGU Business are: Paper Provider MGU Insured Default MGU and Paper Provider can be defined for the end user within the User Preferences, When this is done, these are defaulted when creating a new MGU Business. /sicsdocs/user_guide/pc/getting_started/customize_desktop/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/getting_started/customize_desktop/ SICS allow users to customize the desktop. Activate Custom Desktop # Custom Desktop can be activated by selecting menu item Use Custom Desktop from the File menu. Custom Desktop will initially display an empty space. You will set up the desktop by using the Custom Desktop configuration utility. Configuration # To configure the Custom Desktop from the initial empty state, click the button Configure at the bottom of the window. /sicsdocs/user_guide/pc/protect_reinsurance/fac_protection_prog/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/protect_reinsurance/fac_protection_prog/ To ease registration of large numbers of facultative protections that covers the same scope, it can be beneficial to group these into a contract. These contracts then contain the list of the facultative reinsurers as well as conditions common to all reinsurers. These facultative reinsurances can protect one inward business or several businesses covering the same risk. All the facultative reinsurances belonging to the relevant contract (fac participants) can then be assigned in one go to each of the protected businesses. /sicsdocs/user_guide/pc/search/drill_down_functionality/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/search/drill_down_functionality/ SICS Search supports drill down on category types and their sub-categories. By clicking on a category/sub-category, SICS Search will filter the search result to only showing objects in conjunction with the selected categories. As shown in the example below, we first search for: uk, before drilling down the result from Business, Assumed Business to Non-Prop Treaty. Filter: Business Filter: Business and Assumed Business Filter: Business, Assumed Business and Non-Prop Treaty /sicsdocs/user_guide/pc/accounting/find_ws/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/find_ws/ | Worksheet icon| You can search for Technical, Remittance, and Claim worksheets in addition to Unallocated Remittance Balance, Account and Settlement Balances on the SICS desktop. This opens the Find: Accounting Worksheet window. The window is divided into four tabs: Properties, Special, Advanced, and Options. You input your main search criteria on the Properties tab. Type: Use the drop-down list to select the type of worksheet you are looking for. Options include Technical, Remittance, Claim and Unallocated Remittance, Account and Settlement Balance. /sicsdocs/user_guide/pc/edi/find_edi_batches/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/find_edi_batches/ | EDI Batch icon | Click the EDI Batch icon on the SICS desktop to see the Find: EDI Batch window. | This is where you can input the criteria to search for a batch. The Properties tab includes Batch Number, Batch Type, Archived From and To Dates and Bureau, while you can check from a list of available statuses on the Status tab. Batch Number: Type in the batch number for the batch you are looking for. /sicsdocs/user_guide/pc/task_management/follow_up_tasks/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/task_management/follow_up_tasks/ The Task Management Desktop is the main starting point for following up tasks. The user can see all active tasks where (s)he is the actual owner or the potential owner. The “My Tasks” element contains four folders: Ready- Tasks which are not yet reserved by any user but which the current user can own (because (s)he is among the potential owners of the task Reserved- Tasks which are reserved by the current user (i. /sicsdocs/user_guide/pc/reporting/general_reporting/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/general_reporting/ The Section Prompt # When running reports having objects coming from the Reporting table you are asked to enter a section level. The Reporting table consists primarily of information coming from the Business, Insured Period, Classification (Scope of Cover, SOC), Life Cycle Phase and Partner Information areas. This means that when selecting objects coming from any of these areas, the Reporting table is accessed and this prompt occurs. You can either enter a value directly or click the Values button. /sicsdocs/user_guide/pc/analyse_business/underwriters_estimates/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/analyse_business/underwriters_estimates/ Underwriter’s Estimates # The Underwriter Estimates enables you to enter your own estimated figures for premiums,deductions claims etc. on a business basis. The fields are user-defined. These ‘user-defined’ fields, called Estimation Items, are maintained in the System Parameters Maintenance folder. The Estimation Items created in the Underwriter Estimates are the base for analysing the business as follows: Analyse the technical profitability of the business, and to be able to compare the underwriter estimates from one underwriting year to another. /sicsdocs/user_guide/pc/business_insurables/find_business_insurables_object_groups/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_insurables/find_business_insurables_object_groups/ Find Insurable Object Groups # SICS lets you search for accumulation groups and risk groups that have been created in the Accumulation Group window and the Risk Group window. (Both of these windows are accessed on the Navigation bar of the Insurable Object Properties window.) | Insurable Object Groups icon | Click the Insurable Object Groups icon in the Insurable Object folder on the SICS desktop to see the Find: Insurable Object Groups window. /sicsdocs/user_guide/pc/maintain_mg_estimates/retrocession/period_estimates_on_prop_treaty_retro/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/retrocession/period_estimates_on_prop_treaty_retro/ The Period Estimate functionality on Proportional Treaty Retrocessionaires depends on Multi GAAP system parameter Period Estimation Calculation on Prop Outward Contracts A: When system parameter Period Estimation Calculation on Prop Outward Contracts is cleared The Period Estimate tab on a Proportional treaty Retrocessionaire looks and works much like the one on a Proportional OCC. The only difference is that the estimates are collected from the business ledger of the Retrocessionaire. Figures marked ‘As Booking’ are shown on this tab. /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates_on_iab/advanced_handling_of_period_estimates/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates_on_iab/advanced_handling_of_period_estimates/ When selecting the estimation currencies you usually select the main currency from your base parameters. In most cases this is the EPI. But you also have to be aware of the (future) accounted figures. There is no currency conversion on the Multi GAAP Accounting order. But it is possible to select a check box on the order screen that enables the order to calculate accruals for all currencies. This means that if a currency does not have any estimated values, the calculated accruals for a non-estimated currency will be equal to the technical bookings for that currency. /sicsdocs/user_guide/pc/structure_multiple_contracts/contracts_by_cedents_prog/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/contracts_by_cedents_prog/ Underwriters most often see reinsurance contracts from the same cedent and covering the same portfolio as one program. What type of SICS program your company chooses to use, reinsurance program or cedent’s program, depends on your company’s requirements: Some prefer to maintain most information on the program level to have a strict control of that the belonging treaties are synchronized with the program. If this is a priority, please see the chapter Design Reinsurance Program. /sicsdocs/user_guide/pc/emessaging/overview/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/overview/ eMessaging is a long term replacement for the original SICS EDI interfaces for LIMNET (London Market) and JV (predominantly continental Europe). It consolidates the best of both of these earlier systems into one powerful common interface for processing messages. It uses the xml messages designed by ACORD for Reinsurance and Large Commercial (RLC), that have become de-facto standard for electronic messages in this field. Such messages can be loaded directly into SICS without any external parsing. /sicsdocs/user_guide/pc/bp/record_new_bp/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/record_new_bp/ When a previous record of a business partner does not exist, SICS lets you register the new partner and detailed information about it. Registering this for the first time, you are presented with a page in which you have to enter a minimum of information. If your system administratior has set up the New Business Partner wizard with additional pages, you will be guided step by step through the most relevant information for your company. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_per_event_without_risk_warranty/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_per_event_without_risk_warranty/ When the type of participation is a “Per Event” cover, and a Risk Warranty has notbeen activated, all claims are valid for the protection, regardless of their risk/event indicator. Recoveries are calculated per single claim, or risk claim, or Headline Loss. /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/remove_assumed_bus_from_portfolio_prog/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/remove_assumed_bus_from_portfolio_prog/ You can remove Assumed Business from the Attached Business window on a Portfolio program. Select the Assumed Business section from the Attached Business list. Select Delete from the pop-up menu. This will not have any automatic effect on the estimates or bookings of the Assumed Business or the Portfolio Program. When adding or removing business linked to a Portfolio Program you need to refresh the estimates. To update the estimates of the Portfolio Program sections go to the Period Estimates tab on the Underwriters Estimates window and switch to edit mode. /sicsdocs/user_guide/pc/mg_acc/run_the_multi_gaap_acc_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/mg_acc/run_the_multi_gaap_acc_order/ A calculation order called “Multi GAAP Accounting order” does the booking of the estimates figures. The order does two things: Books the estimates either on the business or portfolio ledger depending on where the estimates are entered. The estimate is always booked with the Estimate indicator set. The booked estimates are also created As original on the ledger of an OCC if the business or portfolio program is connected to a Proportional OCC /sicsdocs/user_guide/pc/prop_retro_accounting/retro_account_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/retro_account_order/ To be able to convert figures from the Booking currencies to the Account currencies for the Retrocessionaire Participation’s (ORP’s), the Retrocession Account order has to be created and run. The conversion to Account currency is done according to Currency Transformation Terms entered on the Outward Cedent’s Contract (OCC) Administration Conditions and the Exchange Rate definitions on the order. The balances in Account currency are booked in the as account business ledger for each ORP. /sicsdocs/user_guide/pc/reporting/accounting_reporting/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/accounting_reporting/ General overview # Accounting is the part of the system with the largest volume of data. Because the data structure in the online part of the system is not particularly suited for some types of reports, a few tables are maintained solely for reporting reasons. This is done mainly for two purposes: To make reports run faster, and to make report definitions easier. The special accounting reporting tables are updated on a regular basis from the data tables used by SICS. /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/attach_portfolio_prog_to_protection_assignment/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/attach_portfolio_prog_to_protection_assignment/ SICS allows you to use the Protection Assignment function also for Portfolio Programs. You do this in the same way as when Assumed Business is linked to a Protection Assignment. The Portfolio Program window has a PP-button for Proportional Protection Assignment. By clicking this button on the Portfolio Program, you can assign Outwards Cedent Contracts or Own Retention in the same way as for ordinary Assumed Businesses. For more information, refer to the SICS User Guide. /sicsdocs/user_guide/pc/prop_retro_accounting/auto_retro_calc_account_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/auto_retro_calc_account_order/ If an Assumed Business is protected by an Outward Cedents’s Contract (OCC) being proportional treaty business which indicator ‘Automatic bookings on OCC & ORP’ is selected, this can be selected only when this OCC protects one AB only, for below scenarios a Retrocession Calculation and a Retrocession Account order will be created and run automatically in sequence, without any user interaction. The orders are closed after they have been run and cannot be edit or rerun by the user. /sicsdocs/user_guide/pc/accounting/auto_prem_acc/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/auto_prem_acc/ Automatic premium accounting in SICS lets you do automatic booking of instalment premiums and adjustment premiums on the following businesses: Proportional and Non-Proportional Facultative, both inward and outward business Proportional and Non-Proportional Direct business Non-Proportional Treaty businesses, both inward and outward business. There are two ways to make an automatic booking of instalments and adjustments: From the Premium Accounting window on the Premium/Limit conditions per section or for all sections of a business /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/calc_recoveries_sys_param_settings/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/calc_recoveries_sys_param_settings/ System parameters will have the following effect on the Recovery Calculation: Refer to System Administration Guide for more information regarding_System Parameters._ Accounting - Miscellaneous # Trace Source Business from Outward Bookings Cleared: The system is performing recovery calculation without creating a link between the outward recovery booking detail, and the business identifier of the source booking. When cleared, the system allows you to select the check box ‘Trace Source Business’ on the Business/Accounting Info tab of an Outward Cedent’s Contract or XL CA of Outward. /sicsdocs/user_guide/pc/business_insurables/link_insurable_object_to_contract/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_insurables/link_insurable_object_to_contract/ Link Insurable Object to Contract # Establish a link between an insurable object(s) and the contract which covers this object Open wanted business and navigate to the Classification tab Right mouse click and select Edit Classification from the pop-up menu From the list menu, select Insurable Objects Right mouse click and select Assign. From Find Insurable Objects, highlight wanted objects and select Transfer from the pop-up menu. Alternatively, if you are linking a single object to your business, you can double click on wanted object /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates_on_iab/create_update_period_estimates_automatically/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates_on_iab/create_update_period_estimates_automatically/ In the Account orders on the SICS desktop, there is an order with the type Estimation Calculation called Multi GAAP Recalculation order. The purpose of this order is to update the estimates that can be found on the Period Estimates tab on Assumed Business, Portfolio Program, OCC and Retrocessionaire’s. The order can also create new Period Estimates on Assumed Businesses, OCCs and Retrocessionaires. This order is very useful if the estimate figures on the Period Estimates tab are coming from a calculation rule using, for example, the EPI as the basis for the calculation. /sicsdocs/user_guide/pc/edi/find_edi_messages/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/find_edi_messages/ | EDI LIMNET Messages icon | Click the EDI LIMNET Message icon on the SICS desktop to see the Find: EDI LIMNET Messages window. Click the EDI JV Messages icon on the SICS desktop to see the Find: EDI JV Messages window. | | EDI JV Messages icon | There are four types of EDI LIMNET batches in SICS: Signing Settlement Delinked and CLASS. There are five types for EDI JV: /sicsdocs/user_guide/pc/task_management/find_task/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/task_management/find_task/ The Find Task feature in Task Management offers a variety of searches. The mainpurpose of this find facility is to find your own tasks, i.e. tasks where you are The actual owner The actual owner of the process The process initiator Input/Output Values General Search Options # To execute a search, you use the following buttons: Find Now starts the search. New Search clears the results in the display list and resets the search criteria to the same as they were when you first opened the find business More becomes available if the number of found tasks are more than the displayed number. /sicsdocs/user_guide/pc/maintain_mg_estimates/retrocession/period_estimates_on_non_prop_treaty_retro/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/retrocession/period_estimates_on_non_prop_treaty_retro/ The Period Estimate tab on a Non-Proportional treaty Retrocessionaire looks and works much like the one on a Non-Proportional OCC. The estimated amounts are either calculated as the Period Estimate on the OCC multiplied with the Retrocessionaire’s share, or calculated directly on the Retrocessionaire. The method can be specified for each Estimated Item. If the flag “Calculation on Retrocessionaire” is selected in the Period Estimation Rule, the item is calculated directly on the Retrocessionaire. /sicsdocs/user_guide/pc/emessaging/import_messages/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/import_messages/ There are three ways messages can be loaded into SICS. 1 - SOAP # SICS eMessaging includes a SOAP interface based on SICS/Server that defines services to: Submit a single ACORD message to the XML Archive for processing Poll for and retrieve a single outbound ACORD (Acknowledgement) message from the XML archive Like SICS/Server, the SOAP interface is deployed as a Java web application. For details, documentation and sample code please refer to the SICS eMessaging Server documentation within the Technical documentation. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/inherit_conds/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/inherit_conds/ Inherit Conditions on Business Sections # A business can be divided into section s, cessions and declarations, and each of them can inherit business conditions and classifications The condition information that is inherited is information entered or edited on the main section of the business. For example, if you create a section of a business that inherits Deduction conditions, when the Deduction conditions are updated on the main section where they were defined, inherited Deduction Conditions are automatically updated. /sicsdocs/user_guide/pc/bp/bp_basic_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/bp_basic_info/ SICS allows accurate and detailed registration of a company’s basic information, such as the name, domicile country, or address. Maintain Partner Key Information # To record or change key information such as the name or identifier of a partner. Find and open the business partner. You see the View business partner window. Click the ‘Edit’ button. You see the Edit Business Partner window. Enter the name and location information, as you require. /sicsdocs/user_guide/pc/managing_general_underwriting/maintain_mgu/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/managing_general_underwriting/maintain_mgu/ Overview of the MGU Frame Agreements for a Paper Provider # Find and open the Business Partner Paper Provider you want to see the MGU Frame Agreements for. You see the View Business Partner Paper Provider window. Click the Details tab. Select MGU Frame Agreements. You see a list on all existing MGU Frame Agreements for the Paper Provider. If select one of the contracts and open pop-up menu, it is possible to Create a new agreement View details on an exisiitng aggrement Edit an agreement to make changes Renew/Copy an agreement Delete an agreemnet Inactivate an agreement Reactivate an inactive agreement Record a new MGU Frame Agreement # Open MGU Frame Agreements for wanted Paper Providerer In pop-up menu, select New. /sicsdocs/user_guide/pc/analyse_business/performance_management_data_return/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/analyse_business/performance_management_data_return/ The Performance Management Data Return (PMDR) captures information on the premium volume, rate change and benchmark pricing and is a key tool for the Performance Management Directorate. The PMDR is primarily relevant for Lloyds syndicates. It is required to justify the syndicates’ decisions and demonstrate how they determined their rates. This is done by a comparison of terms offered in a previous period with the current period. In SICS it is possible to store the PMDR information. /sicsdocs/user_guide/pc/structure_multiple_contracts/contracts_by_workbench/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/contracts_by_workbench/ You may configure your desktop to include the SICS workbench. This is primary an underwriter’s workbench and serves as a staring point for an underwriter’s every day activities. It is most suitable for underitwriters who work with certain cedents, and is ideal when the contracts are further organised in programs. The underwriters can carry out their main functions directly from the workbench. For more information on how to customize your desktop to e. /sicsdocs/user_guide/pc/protect_reinsurance/protect_business/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/protect_reinsurance/protect_business/ Assign Protection Manually # | Proportional Protection Assignment | To assign a Proportional Protection to the Assumed Business, click the Proportional Protection Assignment button in the Navigation bar of a proportional business. You can also assign Non-Proportional Protection to the business by clicking the Non-Proportional Protection Assignment button. | | Non-Proportional Protection Assignment | Assign Proportional Protection # Clicking the Proportional Protection Assignment button opens the Proportional Protection Assignment window. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_per_event_with_risk_warranty/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_per_event_with_risk_warranty/ When the type of participation is a “Per Event” cover, and a Risk Warranty is activated, only claims which are linked to a Headline Loss and has a Risk Name are valid for the protection. Recoveries are not calculated unless the Headline Loss has at least the minimum number of different risk names. The calculation is per Headline Loss. /sicsdocs/user_guide/pc/mg_acc/run_the_multi_gaap_retro_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/mg_acc/run_the_multi_gaap_retro_order/ The purpose of this order is to calculate the difference between the booked estimated values and the accounted figures. The calculated difference is booked as accrual. If the accruals of the Assumed side is not transferred to the retrocession side by the Retrocession Estimation Calculation order the Multi GAAP Retrocession order must be run in order to get accruals calculated. The Multi GAAP Retrocession order will perform the following: It books the estimates in the Period Estimates tab on the Proportional and Non-Proportional Facultative, and Non-Proportional Treaty Retrocessionaire’s “as Booking”. /sicsdocs/user_guide/pc/business_life_span/section_business/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/section_business/ An agreement can be split into two or more sections. A section can be further split into sub sections, which again can be split into sub, sub sections, etc. An agreement/section can also be split into cessions and declarations (cession without insurable object). A cession can be split into declarations, but declarations cannot be split. Get Overview of Sections, Cessions and Declaration # Get Detailed Overview # When you click Structure tab on the business, you see the Section Overview window. /sicsdocs/user_guide/pc/getting_started/sys_admin/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/getting_started/sys_admin/ It is unlikely that you will need to access this section because your SICS System Administrator will handle it. If, however, you are given access to it, it is here that SICS can be customised to your specific needs. The System Administration section enables you to, among other things, set up restrictions and add new values. You may want to, for example, add options to those that SICS has provided in a particular drop-down list, or you may want to change a calculation method or add a category other than Calendar and Fiscal to a Year Rate category. /sicsdocs/user_guide/pc/claims/claim_highlights/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_highlights/ To see the information entered for each recorded claim, you must open the claim properties and navigate to the specific tabs. The Highlights tab of a claim gives you a brief summary of the information recorded on the other tabs, and depends on the Type of Business, the Claim Type, and the Class of Business. Some of the information, for example, the Loss Location is general for all the linked claim sections, whereas other information like the status and disposition is specific for each section. /sicsdocs/user_guide/pc/reporting/business_reporting/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/business_reporting/ Report Conditions to Consider # In order to get the correct information when creating reports with business information there are a few objects that usually have to be included as query filters: Level of Business (Code) to limit the report result on the level of business (IAB, OCC, ORP etc). Basic Status Current (Code) set to ‘DEF’ only brings back businesses with life cycle phase Definite. Is Latest Life Cycle Phase (Y/N) set to ‘Y’ brings back the latest life cycle phase within each insured period of a business. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/delete_cond_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/delete_cond_info/ There may be times when making changes to a condition is not enough. When, for example, a condition is registered in error, or there are special conditions on a section that you do not want, you can easily delete all registered information on a condition. You can also restore inheritance of special conditions that were overridden in error. | Delete Condition button | Once information has been entered on a condition, and that condition window is open, the Delete Condition button appears (not in an inherited condition of a section). /sicsdocs/user_guide/pc/analyse_business/online_statistics/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/analyse_business/online_statistics/ Open and View Online Statistics # Sometimes the accounting information of a business is best presented by statistics. SICS generates online statistics based on the information from the Business Ledger. The statistics are updated immediately when you close a worksheet. Not only accountants, but also underwriters and managers will find that viewing the statistics is the quickest and easiest way to get an overview of the economic situation of a business. /sicsdocs/user_guide/pc/accounting/find_acc_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/find_acc_order/ | Order Icon | Double-click the Order icon in the Accounting folder on the SICS desktop to see the Find: Accounting Order window. This is where you can search for, and create accounting orders. | The Find Accounting Order window is divided into two tabs: Properties, where you input general information for your search, and Advanced, where you can further narrow your search by specifying more advanced search requirements. On the Properties tab, you can input the following to do a search: /sicsdocs/user_guide/pc/emessaging/find_messages/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/find_messages/ Once the messages have been imported to the SICS eMessaging database, the find message window is the place to start looking for messages of interest. In normal operation, you would look for messages not yet processed, so the default situation is to show messages with the following life-cycle statuses: Unprocessed Error Examined From the find message window you can select one or more messages for further action, chiefly to process them or to view them individually. /sicsdocs/user_guide/pc/business_insurables/insurable_objects_cessions/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_insurables/insurable_objects_cessions/ SICS lets you define information about risks relating to objects in a business, and link those risks to the insurable object(s) they cover. You can access cessions: By double-clicking the Cessions icon in the Insurable Objects folder in the SICS desktop From the Business Properties window of the business to which the cession is attached From the Insurable Object Properties window of the insurable object to which the cession is attached Handle Insured Object Cession from the Desktop # Cessions icon Double-click the Cessions icon in the Insurable Objects folder to see the Find: Insurable Object Cessions window. /sicsdocs/user_guide/pc/business_life_span/multi_year_contracts/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/multi_year_contracts/ Reinsurance companies sometimes writes contracts which have insured periods consisting of several years. Contractually, a multi-year contract is one insured period with only one underwriting year and most terms and conditions are the same for the entire insured period. Sometimes however some terms and conditions differ per sub period within the insured period. SICS allows registration of multi-year contracts and offer an effective maintenance of these. Establish Multi-Year Contract # Open an existing business and select the Life Cycle tab From the menu button select Transform To Multi Year Contract. /sicsdocs/user_guide/pc/bp/bps_areas_of_business/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/bps_areas_of_business/ When you are looking for partners with which you want to do business, SICS can help you identify those companies that write the specific class of business and are approved to do so in the area in question. Approve Partner for Countries # You can register the countries in which your business partners are allowed to write insurance. This information is crucial when you are trying to obtain coverage in certain countries. /sicsdocs/user_guide/pc/structure_multiple_contracts/cedents_contract/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/cedents_contract/ A cedent’s contract (inward) in SICS is the 100% agreement seen from the reinsurer’s point of view. It is meant for grouping multiple shares in the same contract. It may include both internal and external companies’ participation. Create Cedent’s Contract # To create cedent’s contract from scratch or to copy from an existing cedent’s contract, see chapters Create New Business and Copy to New Business for description. Create Cedent’s Contract from Business # Create a new cedent’s contract and automatically link the source business to the contract. /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates_on_iab/mass_update_function/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates_on_iab/mass_update_function/ Estimation Complete Mass Update # When closing of specifically selected Estimation Items has been set in the Multi GAAP system parameters, The Estimation Complete Mass Update functionality can be used to perform the closing. To get access to the Estimation Complete Mass Update functionality, the correct User Role must be assigned to the user who is about to perform the closing. This is done in the Security functionality. You can define which businesses that should be included in the Mass Update in two ways:a) Define extract criteria in the Mass Update window, orb) Import a file including businesses that should be updated. /sicsdocs/user_guide/pc/edi/message_view/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/message_view/ The Message View window that you see varies de_pending_ on the type of the message, the bureau, and the status. Although the window will vary, the following tabs are always there: Highlights This tab shows important information extracted from the message or related SICS information that was referenced. For LIMNET messages, the user can specify what business, broker, claim, accounting classification / section or what Our Sequence Number to use during the creation of the worksheet. /sicsdocs/user_guide/pc/managing_general_underwriting/mgu_accounting/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/managing_general_underwriting/mgu_accounting/ Automatic creation of a corresponding worksheet for Paper Provider # When a Technical or Claim worksheet is closed for a MGU Business, system automatically creates and close a corresponding worksheet for the Paper Provider. Both worksheets are displayed on the Business Ledger of the MGU Business. In addition it will automatically be calculated and booked a net MGU Commission amount, Paper Fee and RI Brokerage when recorded on the MGU Frame Agreement. /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/navigate_in_portfolio_prog_hierarchy/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/navigate_in_portfolio_prog_hierarchy/ The Structure tab of the Portfolio Program window gives you an overview of the existing sections for the selected insured period. You can navigate from section to section by double-clicking in the selected line. If you want to see the attached business, you must click the Attached Business button. You can also navigate from the Assumed Business to the Portfolio Program. Click the Portfolio Program button in the Navigation bar of an Assumed Business and the Portfolio Program window opens. /sicsdocs/user_guide/pc/protect_reinsurance/place_business/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/protect_reinsurance/place_business/ The protection might be placed through an intermediary, or it can be placed directly to a retrocessionaire. The 100% conditions will be inherited, with the ability to create special conditions per retrocessionaire. Refer to Enter Special Conditions in this chapter for more information. The Outward Cedent’s Contract and the belonging Retrocessionaires must have the same cedent(s). The same applies for XL CA Of Inward and XL CA Of Outward and their placements. /sicsdocs/user_guide/pc/prop_retro_accounting/produce_prop_retro_acc_docs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/produce_prop_retro_acc_docs/ In Proportional Retrocession Accounting, documents are produced from the Retrocession Account order. The following document types apply: Statement of Account Technical Accounts Profit/Loss Account Loss Participation Statement Sliding Scale Commission Statement Cash Claim Request The Profit Loss-, Loss Participation- and Sliding Scale Commission documents can be produced if conditions and account frequency apply. Cash Claim Request documents can be produced if Retrocession Account order is run with the check box Items Included - Cash Claim selected when Cash Claim booking details are processed. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/recovery_calc_order_for_prot_prog/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/recovery_calc_order_for_prot_prog/ The recovery calculation order for protection program is relevant for calculation of recoveries on either Non-Proportional Treaty or Facultative Outward Cedent’s Contracts. Recoveries from a proportional US Quota Share, albeit structured in a Program, are initiated as single OCC recoveries, described later. Create Recovery Calculation Order for Protection Program # The Recovery Calculation Order could be created from the Protection Program or from the Find: Accounting Order Window. In addition there is also an option to create the order via web service. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_indexation_calc_mult_base_index/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_indexation_calc_mult_base_index/ Recovery Calculation with Indexation - Calculation when multiple base index # Index clause UK Cost Index - Base Index Date 01/01/2011 - Contractual Base Index 100 Standard index - cover increases - payments Limit: 400,000 xs 100,000 UK Cost index Date Value Conversion factor 01.01.2011 100 1.0000 01.01.2012 110 1.0000 01.01.2014 120 1.0000 01.01.2014 100 1.2000 01.01.2015 110 1.2000 01.01.2016 120 1.2000 Contributing details - one recovery claim As of date Due date Entry code Nom amt Index point Ind adj amt 31. /sicsdocs/user_guide/pc/mg_acc/retro_estimation_calc_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/mg_acc/retro_estimation_calc_order/ The purpose of this order is to book the Period Estimates on the business ledger of Proportional OCCs and Retrocessionaire’s. The function takes into account that the estimated figures and the accounted figures may be in different currencies and / or for different accounting periods (Accounting From Date, Accounting To Date). The Retrocession estimation calculation order will perform the same calculations as a normal Retrocession calculation order: It uses the estimates from the Assumed Business to update the Proportional OCC and the Retrocessionaire’s with estimates. /sicsdocs/user_guide/pc/getting_started/before_you_begin/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/getting_started/before_you_begin/ The SICS user interface was designed to be as user-friendly as possible. The look and feel of the interface continues to evolve to give you better dialogs and more advanced navigation features to help you through otherwise complex structures. In order for this guide and the user interface to make sense, you should be aware of how SICS defines the term “Business”. Business refers to the insurance policy and the information that goes into it, which includes quotes, agreements, offers, and declinations. /sicsdocs/user_guide/pc/claims/update_claim/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/update_claim/ In the following chapters, you can read more about each available field and functionality within Claims. Whenever you update a field within the claims, you may be required to enter a Claim Signature Note, provided your System Administrator has activated this functionality. Refer to Claim Description, Comments and Notes later in this chapter. To Update a Single Claim: # Open the Claim which you want to update Navigate to the field which you want to update Go through the edit process, as described in the following chapters Mass Update Claim # SICS supports Mass Update of specific claim information based on a spreadsheet format The following fields can be included: /sicsdocs/user_guide/pc/business_life_span/add_business_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/add_business_info/ The Business tab on the Business Properties window shows the information common for the business for all insured periods. You cannot make changes until you click the Edit button, or the Edit Menu button for the section that you want to edit. Under Identification, you see Title, Business ID, Former ID, and Account Group. Business Title: Title refers to the title you give the business. Business Identifiers: Business ID refers to the SICS automatically generated number, or the number or name your company has given the business to uniquely identify it. /sicsdocs/user_guide/pc/bp/internal_responsibilites_per_partner/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/internal_responsibilites_per_partner/ You can assign people within your own organisation to be the main responsible person for a certain business partner and a certain task, e.g. accounting. If any issues arise with this partner related to accounting, everyone within the organisation would know whom to contact. Open a business partner and click the Details tab. In the Properties display list, select Responsible Person. In the Responsibility/Responsible display list select Add Responsible Person in the pop-up menu. /sicsdocs/user_guide/pc/reporting/claim_reporting/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/claim_reporting/ Report Conditions to Consider # In order to get the correct information when creating reports with claim information, there is at least one object you should consider including as a condition: Claim Status Change Date - this condition limits the result output of all the different claim statuses a claim can have. Claims With or Without Bookings # A report query having objects from both the Claim Information structure and the Accounting Information structure, you must be aware that this kind of report will only show claims that have bookings. /sicsdocs/user_guide/pc/structure_multiple_contracts/master_agreement/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/master_agreement/ Facultative reinsurance agreements resulting from several cedents ceding the same objects can be more easily handled by use of a master agreement. The master agreement is used as a basis for quick set-up of these types of assumed businesses, as well as easy maintenance of them. The master agreement contains the information common to all of these businesses, including links (such as to the objects covered or to planned protections). /sicsdocs/user_guide/pc/accounting/create_maintain_acc_orders/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/create_maintain_acc_orders/ SICS offers various Accounting Orders for automatic calculation and booking of figures on worksheets. Many of these orders are created in the same way and also they support much of the same functionality in finding what portfolio to include etc. Create an Account Order # You create an Account Order from Find Accounting Order: Click the Account Order display list and select New from the pop-up list or the Create New button. /sicsdocs/user_guide/pc/claims/define_loss_names/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/define_loss_names/ The Loss Name is the name you give to the claim and by which you can recognise it on a business. Open the Claim Properties window. Click the Edit button in the Heading Information section. You see the Heading Information window. 3. Edit the Loss Name as required. 4. Click OK. Field description 3. - Loss Name Field Description Location Name The name by which the loss is known.Value: Free-text entry, maximum 60 characters. /sicsdocs/user_guide/pc/prop_retro_accounting/exclude_retros/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/exclude_retros/ Inter-Company Pooling # Inter-company Pooling functionality is used when a reinsurance pooling arrangement requires that bookings to be retroceded to a Retrocessionaire Participation (RP) is excluded when the Business Partner being a Retrocessionaire is also the Cedent of the Assumed Business being protected. Select the field Inter-Company Pooling on the Insured Period tab on the Outward Cedent’s Contract. Refer to Handle Miscellaneous Business and Accounting Information, Individual Options, field Inter-Company Pooling. /sicsdocs/user_guide/pc/edi/find_jv_booking_mappings/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/find_jv_booking_mappings/ | EDI JV Booking Mappings | You can search for booking mappings without having to view the messages. Click the EDI JV Booking Mappings icon on the SICS desktop to see the Find: EDI JV Booking Mappings window. | You can search for booking mappings according to several criteria. Type: Select None, Claim Booking Mapping or Technical Booking Mapping. Business: Select the business on which to search for the booking mapping. /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/default_period_estimates/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/default_period_estimates/ The Default Period Estimates form the basis for estimations at the business. For example, you can provide a pattern at the Portfolio Program of how the premium is written over two years. You have percentages as estimation defaults. These percentages can be used at business (section) level to calculate the estimations. Default Period Estimates are values that are usually produced by an actuary. Default Period Estimates can, for example, represent the development of the loss ratio of a portfolio. /sicsdocs/user_guide/pc/business_insurables/special_acceptances/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_insurables/special_acceptances/ Underwriters may sometimes accept treaties where the policies fall outside the normal treaty terms. The reason for these so-called special acceptances can vary. The coverage may be different or larger than accepted by the normal terms of the treaty, the legal area may fall outside the scope of the normal treaty terms, etc. Indicate that Treaty Allows Special Acceptances # Your treaty includes a deal making special acceptances regarding cession of a particular single risk/policy generally possible. /sicsdocs/user_guide/pc/mg_acc/import_ultimate_loss_ratio_and_ibnr_from_an_ext_file/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/mg_acc/import_ultimate_loss_ratio_and_ibnr_from_an_ext_file/ Four variables that can be used in the Calculation Rules for calculating IBNR and Loss Ratio on an ultimate basis are uploaded from an external file. The upload can be executed by the Ultimate Loss Ratio Import which are available in the Periodic Functions folder on the SICS Desktop. The file to be imported should have a specific syntax as shown below and can be CSV (comma separated variable file) or Excel spreedsheet or text file or any other format as supported by tabular frame work: /sicsdocs/user_guide/pc/agreem_terms_and_conditions/ins_period_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/ins_period_info/ The information relating to the begin and end time of a reinsurance contract, comprises in SICS the insured period information. This information is the driver of numerous functions throughout the system and it is therefore of outmost importance to enter this information accurately. This area is therefore subject to strict validation. Record Insured Period Information # The cedent normally notifies you about the insured period already when offering a business. If not, you normally do not record the business. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/recovery_calc_single_np_occ_and_xlca/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/recovery_calc_single_np_occ_and_xlca/ Create Recovery Calculation Order for Single Non-Proportional OCC and XLCA # Recoveries for single Non-Proportional Outward Cedent’s Contract (OCC) and XL CA Of Outward (XLCA) are calculated from the same order; Recovery Calculation for Single OCC order. The Order is created from the OCC or XL CA Claims List or from the Find: Accounting Order window. In addition there is also an option to create the order via web service. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_increase_fgu_occ_retention/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_increase_fgu_occ_retention/ Business Limit Excess AB Limit 3 000 000 500 000 OCC Limit 3 000 000 500 000 Inwards Claims and Bookings Claim HL Risk Paid FGU Res FGU Inc FGU Paid layer Res layer 123 250 000 600 000 850 000 - 350 000 568 HL A 150 000 550 000 700 000 - 200 000 569 HL A 650 000 800 000 1 450 000 150 000 800 000 570 Risk B 750 000 400 000 1 150 000 250 000 400 000 571 Risk B 500 000 60 000 560 000 - 60 000 Recovery Calculation /sicsdocs/user_guide/pc/getting_started/set_user_prefs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/getting_started/set_user_prefs/ SICS lets you set preferences that affect your daily working environment within the system. There are default values that affect the Create New Business wizard, the Find Business, Find Claims window, and Accounting Worksheets. Your default values for the classification on the Create New Business wizard depend on the class of business, base company, and reporting unit(s). Setting these default values can speed up the registration process for you, but they are different for all users, which is why each user can set them individually. /sicsdocs/user_guide/pc/emessaging/highlights/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/highlights/ The view message window displays everything there is to know about a single message. It defaults to the highlights tab, which shows a summary of the message. Other tabs show additional information. Highlights # This tab is composed of three parts. The first part. Message identification, tells you about the sender and receiver, the dates the message was created and loaded into SICS, the life-cycle status and the include/exclude flag. This part is constant for all message types. /sicsdocs/user_guide/pc/protect_reinsurance/protection_assignment/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/protect_reinsurance/protection_assignment/ Proportional Protections # | | From an inward business, click the Proportional Protection Assignment button in the Navigation bar. | This opens the Proportional Protection Assignment window. The window is split into two parts: the upper part is for the proportional protection, and the lower part for the non-proportional protection. When a protection is assigned for the business, the protection is displayed in this window. In the ID column you can see the business ID. /sicsdocs/user_guide/pc/appendix_non_prop/apply_inward_claim_limits_for_single_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/apply_inward_claim_limits_for_single_claims/ Business Cover Excess AB Limit 3 000 000 500 000 OCC Limit 3 000 000 500 000 Inwards Claims and Bookings Claim HL Claim cover Claim xs Paid FGU Res.FGU Inc.FGU Paid layer Res.layer 123 700 000 100 000 250 000 600 000 850 000 150 000 568 HL A 150 000 550 000 700 000 - 569 HL A 650 000 800 000 1 450 000 150 000 570 Risk B 750 000 400 000 1 150 000 250 000 571 Risk B 500 000 60 000 560 000 - 145 575 000 250 000 825 000 75 000 Recovery calculation: /sicsdocs/user_guide/pc/accounting/booking_underwriters_estimate_accrual_acc_inward_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/booking_underwriters_estimate_accrual_acc_inward_order/ The Accrual Accounting on Inward Order is booking figures from Underwriters Estimate, Adjusted Estimates tab into a Technical Worksheet. You define one order for each portfolio that you want to the system book estimates for. The Account Order calculates and books both Estimate and Accrual: The up to the respective date Estimated Written Premium [Commission, Brokerage, Other Costs respectively] = Underwriters Estimate (* Time Elapsed, if applicable). The Accrued Written Premium = Estimated Written Premium minus Actually Accounted figures booked on Business Ledger with Entry Codes in Entry Code Sub Category Premium, Premium Portfolio Entry, Premium Portfolio Withdrawal, Original Premium Portfolio Entry and Original Premium Portfolio Withdrawal, with Booking Period <= Booking Period in the order window. /sicsdocs/user_guide/pc/business_insurables/control_accumulation_of_insured_objects/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_insurables/control_accumulation_of_insured_objects/ Accumulation Control Button A reinsurance company often finds itself insuring the same single objects, like buildings or vessels, again and again, so it is important to keep track of their cumulative effect. SICS offers a facility for controlling the exposure to these cumulative effects. Control Accumulation of Insured Object # Select the Insurable Objectcs icon. Select the Insurable Objects sub icon. Search for the insurable object that you want to do accumulation control for. /sicsdocs/user_guide/pc/claims/define_loss_location_risk_zone/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/define_loss_location_risk_zone/ In order to validate that the claim is recoverable under an assumed business, and for other purposes like reporting, accumulation control, and recovery it is necessary to record the Loss Location. You can also register the Area of Jurisdiction the claim falls under, and in addition you may want to link the claim to a specific Risk Zone for informational and reporting purposes. Define Loss Location # SICS allows you to record the Location as an Area, for example World Wide, a specific Country (United States), State Groups (Western States), specific State (California), City (San Francisco). /sicsdocs/user_guide/pc/edi/edi_limnet_bulk_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/edi_limnet_bulk_claims/ EDI LIMNET supports the handling of bulk claims messages. A bulk claim consists of a bulk header and a number of bulk component claims. The bulk header is created as a claim in its own right, but there is a new indicator on Claim windows that shows the claim is a bulk header. Claims where the EDI bulk claim check box (on the Section Specific tab) is selected must have a claim disposition of Informational. /sicsdocs/user_guide/pc/bp/evaluate_bp/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/evaluate_bp/ SICS offers several means of assisting you in determining and monitoring the financial situation of your business partners. It assists you both in evaluating the partners’ general financial situation, as well as the particular financial situation with your company. Analyse Key Figures of Business Partner # SICS lets you register annual financial figures published from your business partners’ accounts. Examples of key figures are Gross Premium Written, Premiums Earned and Claims Incurred. /sicsdocs/user_guide/pc/structure_multiple_contracts/group_business/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/group_business/ SICS lets you create different types of groups. These groups are created from different business windows and include: Merger Group Business Group Master Treaty Group, Bouquet Calculation Group, Offer Group Bifurcation Group Find Business Group # The Find Business Group lets you search for already created groups. Select the Business icon on the desktop Select the Group icon Enter your search criteria Select Find Now Field description - Find Business Groups /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/period_estimates_on_portfolio_prog/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/period_estimates_on_portfolio_prog/ To get an overview of the estimations done on the Assumed Business you can use the Underwriters Estimates window / Period Estimates tab on the Portfolio Program. You can also make adjustments to these estimations. On the Period Estimates tab of the Portfolio Program you can see the sum of estimations of all Assumed Business connected to the Portfolio Program section. You also see the various estimation currencies used on the business. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/share_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/share_cond/ Share Conditions button Share conditions in SICS refer to the part of the reinsurance contract that specifies the portion (often referred to as the line) that a reinsurer assumes in a contract. These shares are among the most important terms in any agreement and play a central role in many administrative processes. In SICS, they are used extensively-from calculating each party’s share of premiums and claims to determining retrocession percentages. /sicsdocs/user_guide/pc/business_life_span/business_signature_note/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/business_signature_note/ In addition to the free text possibilities in the various areas of a contract, you may capture a collection of notes with the contract. Each note is traceable with information like the person creating the note and the date it was created. Add Business Signature Note # Add a new signature note to a contract’s list of notes. Open the contract for which you want to add a Signature Note. Select the Highlights tab Select the Signature Note tab Select Add from the pop-up menu Specify the Signature Date, Type, and Description Enter the note content Select OK. /sicsdocs/user_guide/pc/prop_retro_accounting/perform_calc_when_running_retro_calc_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/perform_calc_when_running_retro_calc_order/ In order to perform calculations and to distribute the bookings to the Retrocessionaire Participations (RP’s) of a Proportional Outward Cedent’s Contract (OCC), you must run the Retrocession Calculation Order. There are two main types of calculations; Calculations performed without having any business conditions defined (original calculations), for example calculation of Premium and Claims Calculations performed according to the definition of the business conditions, for example Commission, Reserve and Portfolio etc. The conditions used in the calculations are the conditions defined on the OCC unless special conditions are defined for the RP’s Conditions may vary from one Insured Period to another. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/recovery_calc_order_xl_fac/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/recovery_calc_order_xl_fac/ Create Recovery Calculation Order for XL Fac # The Recovery Calculation Order for XL Fac is started from the Assumed Business’ Claims List or from the Find: Accounting Order window. Claims List: Select Create Recovery Order options from the pop-up menu. The Insured Periods window appears showing all Insured Periods of the Assumed Business. If you select one ore more Insured Periods and select Create Recovery Calculation Order, you see the Create Recovery Calculation Order for XL Fac window including all selected Insured Periods in the Assumed Business List. /sicsdocs/user_guide/pc/reporting/retro_reporting/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/retro_reporting/ Retrocession Business Reporting # Itis possible in retrocession reporting to extract data that shows you the whole chain from Assumed Business to the Placed Business. If any object under the Retrocession Structure class is combined with any other class, for example Accounting Information, the report unfortunately returns aggregated accounting figures. The Retrocession Structure class should therefore be used in isolation from the other classes above it. Creating reports with accounting information for retroceded businesses refer to section Ordinary Retrocession Accounting Information. /sicsdocs/user_guide/pc/emessaging/rulesets/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/rulesets/ Introduction # One of the key features of the eMessaging module is the increased control offered in the way that validation rules are applied to messages received. The full power of the eMessaging module can only be appreciated if you have a basic understanding of how the rules work, and this section aims to give you this. The system administrator is responsible for the management of the rules, and there are more comprehensive instructions in the System Administration Guide. /sicsdocs/user_guide/pc/accounting/auto_prem_reserves_acc/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/auto_prem_reserves_acc/ SICS lets you calculate and book three types of premium reserves automatically: Original Premium Reserves, Financial Premium Reservesand Unearned Premium Reserves. Each of these functions calculates and books the respective amounts according to its defined rules. The result of the Automatic Booking of Premium Reserves are booked with Entry Codes defined in the System Parameter Accounting/Entry Codes/Accounting Function (refer to the Accounting Functions listed below). The Accounting Function used for the calculations depends on the type of reserve orders you are running: /sicsdocs/user_guide/pc/prop_retro_accounting/calc_deductions/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/calc_deductions/ If you want the SICS to calculate the Deductions, the conditions must be defined. (Ref. chapter Handle Deduction Conditions.). Conditions may be equal for all Retrocessionaire Participations (RP’s) or one or more of the RP’s may have special Deduction conditions entered. Calculate Commission # Commission, if defined, is calculated whenever you run the Retrocession Calculation order. Available calculation methods are; None No calculation of Commission is performed. Original All bookings with Entry Codes within the Entry Code Sub Category Original Commission are multiplied with the Share of the RP. /sicsdocs/user_guide/pc/emessaging/details_on_bp/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/details_on_bp/ Find Business Partner # The find business partner window is described in a separate chapter in the User Guide. You can search for partners using eMessaging agency and party identifier pair. This can be useful if a pair you are trying to add to a partner is rejected because it is already assigned to another partner. View eMessaging Details # eMessaging details are accessed from the View Business partner window. /sicsdocs/user_guide/pc/reporting/functions_in_bo/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/functions_in_bo/ Creating a Local Variable # Within your report document you have the possibility to create local variables (=objects) containing a formula based on any other information existing within the report. You can access the Local Variable Editor in two ways: Right-mouse click in the Report Manager box and select New Variable from the menu (only an option in Desktop Intelligence). Select Variables from the Data menu, and then click the Add button. /sicsdocs/user_guide/pc/business_insurables/insured_peril_cessions/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_insurables/insured_peril_cessions/ An insured peril is an insured risk of catastrophe in a certain risk zone. The insured peril cessions features in SICS enables you to effectively maintain the risks of your business and also to form the basis of accumulation control. Note! If your system administrator has set up your system to allow for business with To be Advised insured periods, your assumed businesses might not have any insured period at all. /sicsdocs/user_guide/pc/bp/inter_bp_relations/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/inter_bp_relations/ To maintain an overview of your partner’s organizational structure (current and historical) and common characteristics, SICS allows you to link partners in numerous ways. Merge Partners # Combine two separate companies into a single new legal entity. Open the business partner for whom you want create a link to a merged company or merger parent and open the Details tab. In the Properties display list select Merged Companies or Merger Parent In the Merged Companies/Merger Parent display list select New in the pop-up menu. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/limit_premium_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/limit_premium_cond/ Terms and conditions regarding the maximum liability of a reinsurance agreement and the monetary amount to be received in return for the cover comprise, in SICS, the limit and premium conditions. The limits range from the agreed monetary limitations and deductibles to more informational items, like run passenger miles and turnovers. The premium conditions include items such as the estimated premium informed by the cedent, pre-agreed premiums, premium rates, and premium invoicing schedules. /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/loss_development_patterns/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/loss_development_patterns/ Losses within the same category often develop in similar ways over time. Specific patterns of loss development can help the underwriter to e.g. calculate IBNR reserves. Loss Development Pattern selected on Portfolio Program is inherited to linked Assumed Businesses. Inherited Loss Development Pattern can be overridden on Assumed Businesses - values can be changed or a completely different Loss Development Pattern can be selected. Register Incurred Development Curve: # Open Underwriters Estimates and select the Loss Development Pattern tab Select to open the Incurred Development Curve subtab in edit mode Click the edit button next to Loss Development Pattern field and select wanted pattern Save the selected Loss Development Pattern If required, make changes to Number of Months and values Save Register Paid Development Curve: # Open Underwriters Estimates and select the Loss Development Pattern tab Select to open the Paid Development Curve subtab in edit mode Click the edit button next to Loss Development Pattern field and select wanted pattern Save the selected Loss Development Pattern If required, make changes to Number of Months and values Save Register a second Incurred Development Curve: # Open Underwriters Estimates and select the Loss Development Pattern tab Select to open the Incurred Development Curve 2 subtab in edit mode Click the edit button next to Loss Development Pattern field and select wanted pattern Save the selected Loss Development Pattern If required, make changes to Number of Months and values Save Register a second Paid Development Curve: # Open Underwriters Estimates and select the Loss Development Pattern tab Select to open the Paid Development Curve 2 subtab in edit mode Click the edit button next to Loss Development Pattern field and select wanted pattern Save the selected Loss Development Pattern If required, make changes to Number of Months and values Save Your system may have been set up to automatically update Loss Development Curves whenever an update is made in system parameters. /sicsdocs/user_guide/pc/claims/loss_dates_trigger_dates_orig_policy_period_dates/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/loss_dates_trigger_dates_orig_policy_period_dates/ The Claim Basis defined on the Claim Condition determines how losses shall be validated against the Insured Period. In SICS the validation of claims against the Insured Period considers the following: Claim Basis Extended Reporting Period Date Loss Portfolio Condition Insured Period Date of Loss From Claim Trigger Date Original Policy Period (OPP)From Parameter “Do Not Validate OPP for Losses Occurring” Define Dates of Loss, Trigger Date, and Original Policy Period # Open the Claim Properties window. /sicsdocs/user_guide/pc/edi/processing_edi_limnet_messages/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/processing_edi_limnet_messages/ LIMNET messages are processed in two main steps, which are message validation and the update of SICS. The validation stage, which can be activated for individual messages by selecting validate from the message pop-up windows, comprises of referencing to various SICS objects and field validation. The update of SICS (applying), which comprises of the update of business share and EDI Information, claims and worksheets. Further validations are performed (pre-applying and applying) at this stage. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/recovery_calc_order_sl_aggregate_xl/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/recovery_calc_order_sl_aggregate_xl/ Create Recovery Calculation Order for Stop Loss / Aggregate XL # The Recovery Calculation order for Stop Loss / Aggregate XL is started from the OCC Claim List or from the Find Accounting Order window, or from the Protection Program Stop Loss / Aggregate XL part if the OCC is structured in a program. Claim List Open the OCC Claim List Select Create Recovery Order from the popup menu. The Insured Periods window appears showing all the Insured Periods of the OCC. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_franchise_deductible/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_franchise_deductible/ /sicsdocs/user_guide/pc/structure_multiple_contracts/co_ins_bus_struct/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/co_ins_bus_struct/ You may find that you are in the process of recording a new business offer and wish to record it in SICS. However, this offer is part of a co-insurance policy where several insurers are independently sharing the liability. You wish therefore to indicate that you are a participant in such a policy. In some cases your company has also been given the responsibility to administer this co-insurance policy on behalf of the other co-insurers, (e. /sicsdocs/user_guide/pc/business_life_span/ext_business_links_and_ids/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/ext_business_links_and_ids/ If your company have activated the Retrieve Business Info from External System and/or the URL Addresses on the business functionality for your business’ base company and main class of business, the respective information is displayed on the External Info tab of the business. Note! This information is only enabled for the ‘Assumed Business’ and ‘Retrocessionaire Participation’ levels of a business. URL Addresses If your company is using the URL Addresses on the business functionality, URL links are enabled on the businesses belonging to the base company and main class of business with the URL parameter activated. /sicsdocs/user_guide/pc/accounting/auto_claim_reserves_acc/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/auto_claim_reserves_acc/ There are three types of automatic claims reserve calculation functions in SICS: Balance Reserves Order General Reserves Order Financial Claim Reserve Order EachEach of these functions calculates and books the respective amounts according to its defined rules. The result of the Automatic Booking of Claim Reserves are booked with Entry Codes defined in the System Parameter Accounting/Entry Codes/Accounting Function (refer to the Accounting Functions listed below). The Accounting Function used for the calculations depends on the type of reserve orders you are running: /sicsdocs/user_guide/pc/prop_retro_accounting/calc_loss_adj_expenses/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/calc_loss_adj_expenses/ If you want the SICS to calculate the Loss Adjustment Expenses, the conditions must be defined. Calculate Loss Adjustment Expenses - Paid Losses # Loss Adjustment Expenses - Paid Losses, if defined, is calculated whenever you run the Retrocession Calculation order. Available calculation methods are: None No calculation of Loss Adjustment Expenses - Paid Losses is performed Percent All Loss bookings according to the Entry Code Group selected on the condition as calculation basis are multiplied with the Share of the Retrocessionaire’s and the Loss Adjustment Expenses - Paid Losses percentage. /sicsdocs/user_guide/pc/claims/additional_security_for_bookings/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/additional_security_for_bookings/ When required it is possible to restrict accounting for the claim (all sections) to users with specific authorization level only. When a claim has been marked as requiring additional security; an additional check within the Accounting module will validate that the accountant has appropriate authority when booking on the claim; regardless of the amount that is booked. This additional security may be linked to the Complexity level of the claim; ensuring that all claims which are deemed as complex require such security. /sicsdocs/user_guide/pc/business_insurables/control_accumulation_of_insured_perils/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_insurables/control_accumulation_of_insured_perils/ When reinsuring the same risks of catastrophe, like earthquake in a certain zone, through multiple reinsurance/insurance contracts, it is important to keep track of their cumulative effect. The DXC accumulation control of insured perils facility provides a detailed analysis for this. Depending on your system set up, the accumulation control either includes only the requested zone or the requested zone and its sub zones. Calculate Peril Exposure Starting from Business # | Insured Peril Cession button | 1. /sicsdocs/user_guide/pc/emessaging/info_on_business_insured_period/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/info_on_business_insured_period/ eMessaging details on an insured period are accessed from the insured period tab of the business. The menu has options to create, view or edit eMessaging information. In view mode it is possible to navigate between Insured periods using the navigation bar. Message signed line: This attribute is copied from a TechAccount message. It cannot be changed by the user. It is the signed share percentage notified on the last message processed by eMessaging, and is only used for signed line validation in eMessaging. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/claim_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/claim_cond/ You use this condition to register how claims falling within your part of the business should be handled, how expenses should be calculated, whether interests apply and how they should be calculated, and annuity terms. Not all conditions are applicable to all types of business and the Claim Condition window varies depending on the type of business. | Claim Condition button | Click the Claim Condition button in the Navigation bar. /sicsdocs/user_guide/pc/business_life_span/misc_business_and_acc_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/misc_business_and_acc_info/ This section handles information regarding the Former Identification, some Accounting options, EDI information and the Reporting Classifications of your business. The Reporting Classifications you will only have available if your System Administrator has set up the system this way. When dealing with outward business, you have some different options such as Active Indicator, Placement Completed and Reinsurance Category. Maintain EDI Information on Insured Periods # You can create and view EDI information connected to an insured period by clicking the Edit Menu button in the Insured Period tab on the Business Properties window and selecting: /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/ulr_and_ibnr_method/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/maintain_mg_estimates/estimates/ulr_and_ibnr_method/ The Ultimate Loss Ratio reflects the worst case scenario for a risk, and is used to calculate for example IBNR reserves. The fields can be registered in Underwriters Estimates at Portfolio Program level, and can be used in the calculation of Underwriters Estimates on linked Assumed Businesses. In addition, you can register one or two IBNR Methods which can be used to determine the formula to be used when calculating IBNR on linked Assumed Businesses. /sicsdocs/user_guide/pc/structure_multiple_contracts/multiple_stamp_agreem/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/multiple_stamp_agreem/ In multiple stamp arrangements, one owned or managed entity in a corporation typically underwrites on behalf of another entity. When an underwriter places a share, the share is underwritten on behalf of other entities with each taking a pre agreed portion. The pre agreed apportionment can be between two or several entities. SICS handles these arrangements by use of a joint contract representing the total share to be split between the entities (insurers/reinsurers). /sicsdocs/user_guide/pc/edi/processing_edi_vnab_messages/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/processing_edi_vnab_messages/ P&C support messages from the Dutch Insurance Exchange Association (VNAB.) Many of the basic principles are the same as processing EDI LIMENT messages, but there are some important differences. When processing VNAB messages there are two major factors to consider: How to reference the messages How they will be applied. In order to book any EDI message, it is first necessary to link the message to various objects in SICS, such a currency or a business. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/recovery_calc_order_us_qs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/recovery_calc_order_us_qs/ Create Recovery Calculation Order for US Quota Share # The Recovery Calculation order for US Quota Share is started from the OCC Claim List or from the Find Accounting Order window, regardless of whether the OCC is structured in a program or not. Claim List Open the OCC Claim List Select Create Recovery Order options from the popup menu. The Insured Periods window appears showing all the Insured Periods of the OCC. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_claim_basis_claims_made/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_claim_basis_claims_made/ /sicsdocs/user_guide/pc/bp/mail_groups/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/mail_groups/ SICS let you specify mail groups of partners with their addresses. Typical uses of mail groups are: Mass correspondence (for example, sending newsletters or Christmas cards). Correspondence indicating which address to use when sending different types of documents (for example, Statement of Account) to partners. The following can be made part of a mail group: Business Partners Individual Persons Banks Other Mail Groups Create a Mail Group # Click the Mail groups’ icon in the Partners folder on the desktop to open the Mail group Management window. /sicsdocs/user_guide/pc/reporting/upgrading_reports/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/upgrading_reports/ In many companies, it is your System Administrator who is responsible for upgrading universes in BusinessObjects. Following the instructions in the SICS System Administration Guide the new universe should overwrite the old universe in the same folder structure and with the same short file name. Your responsibility in the upgrading process is to upgrade your existing reports so that they can be opened and used with a new universe. Before you can start using the new universe, you need to verify that your reports run with the new universe will contain the same data as with the old universe. /sicsdocs/user_guide/pc/accounting/billing_reminder_statements/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/billing_reminder_statements/ The Billing Statement and Reminder Statement functions in SICS let you extract open, overdue balances on a Business Partner ledger; confirm the extraction on a special order; create statements including these balances; produce documents showing these balances; and update each balance with information about this transaction. The two functions are almost identical but have one basic difference: The Billing Statement Order extracts all unsettled overdue balances that have not been included before, while the Reminder Statement Order extracts all unsettled overdue balances that have previously been included in either a Billing or Reminder Statement. /sicsdocs/user_guide/pc/prop_retro_accounting/calc_profit_commission/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/calc_profit_commission/ Calculate Profit Commission # If you want the SICS to calculate the Profit Commission, the conditions must be defined. Refer to Profit Commission condition. Conditions may be equal for all Retrocessionaire’s or one or more of the Retrocessionaire’s may have special Profit Commission condition entered. Profit Commission is calculated on cumulative figures per Insured Period. The Entry Codes included in the Profit Commission calculation is according to the definition of the selected Entry Code Group in the field Profit/Loss Basis. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/edit_run_existing_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/edit_run_existing_order/ You can edit the existing order by using the Edit Menu button on the order and selecting Edit. You can run the recovery calculation several times until the order is closed. /sicsdocs/user_guide/pc/emessaging/information_on_claim/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/information_on_claim/ Unlike EDI, there is no specific frame for eMessaging information. Because eMessaging does not support bulk claims, and because it can support multiple UCR’s per claim section, many of the existing attributes in EDI information are not relevant in eMessaging. However there are two widgets that are relevant for eMessaging: SCM Expected Menu (section specific ruleset Menu) SCM Expected is explained in detail in Chapter 10, Claims, but it should be noted that the functionality originally provided for Lloyds claims in EID is now extended to all claim movements in eMessaging. /sicsdocs/user_guide/pc/claims/evaluated_reserves/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/evaluated_reserves/ If you are using the London Market Module, you may want to ensure that the reserves your Claim Administrator set up - so-called “Evaluated Reserves” - are maintained, and not impacted by the reserves advised by the Bureau. To set Evaluated Reserves: Open the claim properties for the claim where you want to set evaluated reserves Select Edit in the Header section Select the check-box “Eval.Reserves” Click OK When the check-box is selected, the system books the Bureau Reserve towards an Informational Entry Code, and leaves the Evaluated Reserve as the Claim’s proper reserve. /sicsdocs/user_guide/pc/bp/bp_bank_accounts/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/bp_bank_accounts/ Wire transfers in SICS require bank accounts to be recorded for the partners involved in the transaction. Each bank account must be linked to a bank. In SICS banks are handled as separate partners. Find Banks by Name and Swift Code # In situations where you want to update the information on an existing bank or check if the bank exists in the system, you can use the search feature. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/calc_rules/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/calc_rules/ | Calculation Rules button | Click the Calculation Rules button on the Navigation bar of an Outward Cedent’s Contract to see the Calculation Rules window. Here you can specify rules that pertain to calculation of this business. | Summary Level # The summary level section of the window lets you indicate the level at which you want to produce the Technical Account and the Profit/Loss Account. You have three different options. /sicsdocs/user_guide/pc/business_life_span/offer_quotation_process/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/offer_quotation_process/ Corresponding with Insured Period dates are buttons that indicate the business phases. These buttons indicate current status and history of a business. The Life Cycle of a business begins as Offer, or Renewal Quote Requested or New Quote Requested. If the business begins with a quote request, there can be a Decline to Quote, or the request becomes Quoted, and the quote can be Taken Up or Not Taken Up. If the business begins with an offer, it could be either New Agreement Offered, or Renewal Offered. /sicsdocs/user_guide/pc/structure_multiple_contracts/intra_group_reinsurance/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/intra_group_reinsurance/ Reinsurance companies often cede business to an ‘internal’ reinsurer, e.g. to a company in the same corporation or in a joint venture. Each of the parties are in these cases a base company/user company. For example, a parent company buys reinsurance protection from one of its subsidiaries. On this treaty, the parent company is the cedent and the subsidiary is one of the reinsurer/retrocessionaires. In the subsidiary’s view, this treaty is an ‘internal’ assumed business. /sicsdocs/user_guide/pc/edi/processing_edi_jv_messages/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/processing_edi_jv_messages/ The current version of SICS supports the RETACC, REBORD, RESETT, RECLAM and REDIAL message standards. RETACC and REBORD messages create bookings on Technical or Claim worksheets when processed. RESETT messages create remittance balances that are then paired against corresponding Technical or Claim balances. Only RESETT messages with a single group 2 records and a single group 3 records are supported. RECLAM and REDIAL messages can be imported into the SICS EDI Archive, but only for viewing purposes. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_for_risks_attaching_prot_inter_lock_clause/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_for_risks_attaching_prot_inter_lock_clause/ /sicsdocs/user_guide/pc/reporting/sample_reports/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/sample_reports/ Sample reports are included with the delivered universes. The sample reports are there to show possible reports that can be created by a user, such as formatting, or objects needed to include in a report to extract certain information. /sicsdocs/user_guide/pc/prop_retro_accounting/calc_loss_participation/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/calc_loss_participation/ If you want the SICS to calculate the Loss Participation, the conditions must be defined. Refer to Deductible condition, type Loss Participation. Conditions must be equal for all Retrocessionaire’s (no special Reserve condition). Loss Participation is calculated according to the frequency defined on the conditions, but cannot be calculated more frequent than the Accounts. The Loss Participation is calculated on cumulated figures per Insured Period. The calculation of the Loss Participation amount is depending on the Loss Ratio and the fixed rates defined for Min/Max Loss Ratio. /sicsdocs/user_guide/pc/accounting/chaser_letters/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/chaser_letters/ Chaser Letter # SICS offers you to run an Account Orders to automatically produce documents for chasing up outstanding balances or overdue accounting documents. Create Cash Chaser Letter Order # The advantage with this order compared with the Billing Statement Order is that it can produce document for several Business Partners (Payment Partners) in same order. In addition it can be run as a batch job (Scheduled job) and you can set a parameter within the order to have the document automatically printed. /sicsdocs/user_guide/pc/claims/fgu_indicator/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/fgu_indicator/ The FGU indicator on Individual claims allows you to indicate that Claim Accounting for the claim should primarily use the From Ground Up functionality. Refer to Claim From Ground Up Handling later in this chapter. The indicator is only available if your System Administrator has enabled the functionality. The default value depends on the type of participation and Administration Channel (an additional classification item of your choosing) of the business on which you are creating the claim, or the corresponding indicator on the Claim Program from which you are creating your claim. /sicsdocs/user_guide/pc/edi/generating_edi_jv_messages/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/generating_edi_jv_messages/ SICS provides the possibility to produce JV messages from accounting orders and claims. These messages can then be sent between business partners without the need of an intermediary entity as required for LIMNET. Generating Messages from Accounting Order # The generation of EDI JV messages is achieved given three specific accounting orders: Retrocession Account, Facultative, and Treaty Outward. To access an accounting order: Open the Accounting folder on the SICS desktop and double-click the Order icon. /sicsdocs/user_guide/pc/bp/bp_conditions/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/bp_conditions/ The business partner conditions are conditions that are valid for certain types of business accepted from (or through) a partner. These conditions can be recorded on the partners, and will be reflected on business involving the partner. The business partner conditions include: Credit Terms Brokerage Frame Agreement Tax on Interest Maintain Credit Terms # Credit terms are the agreed number of days of credit before a settlement has to be made by your business partner. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/deposit_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/deposit_cond/ | Deposit Condition button | When a Business agreement includes Premium- and/or Loss Deposit conditions, you enter the details of these conditions in the Deposit conditions window. To open the Deposit conditions window, click the Deposit Conditions button on the Navigation bar. | Dependent on the Level- and Type of Business the conditions are for information only, or basis for further calculations performed, e.g. by a Retrocession Calculation order. (For information about each calculation method and how the Premium-and Loss Deposit are calculated for Outward Cedent’s Contract and Retrocessionaire’ Participation Proportional treaties, refer to Calculate Deposits section. /sicsdocs/user_guide/pc/structure_multiple_contracts/protection_sequence/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/structure_multiple_contracts/protection_sequence/ Some times the reinsurance agreement states a certain sequence in which it should be applied as compared to other reinsurance agreements. An excess of loss treaty may, for example, be net after all proportional protections, (which means it is a protection of the cedent’s retention). A quota shares treaty may be net after all other protections, which means both after other proportional and non-proportional agreements. SICS allows you to indicate these sequences and related information. /sicsdocs/user_guide/pc/emessaging/outbound_messages/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/outbound_messages/ As well as receiving ACORD RLC messages, SICS can create and send such messages. At present, it can create Acknowledgements Settlements TechAccounts for Outwards business Claim Movement for Outwards business Other message types may be added in future. When sending messages other than acknowledgements, the ACORD standard requires you to receive an acknowledgement back, and SICS now supports this requirement. Life-cycle status # Just as incoming messages have a sequence of messages statuses they go through, so do outbound messages. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/produce_recovery_docs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/produce_recovery_docs/ To produce recovery documents, go through these steps: Select Produce Documents from the Edit Menu. Following window appears dependent on which recovery order you are producing documents for: for Protection Program: Select Protection Program Sections to Produce Documents window appears. Recovery Calculation for Single OCC: Select Outward Cedent’s Contracts to Produce Documents window appears. Recovery Calculation for XL Fac: Select Assumed Businesses to Produce Documents window appears. Define the worksheets that should be considered in the document production by selecting As of Date or Due Date From - UpTo. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_date_loss_sequence/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_date_loss_sequence/ /sicsdocs/user_guide/pc/business_life_span/renew_business/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/renew_business/ Renew Business Manually # Establish a new insured period for an existing contract, either for a renewal assessment or for recording an already agreed renewal. Open your business. Select the Life Cycle tab. From the menu button, selet Renewal. You see the Renewal of Business wizard, which is similar to the Create New Business wizard. It takes you step by step through the process of recording information for the new period. /sicsdocs/user_guide/pc/reporting/troubleshooting/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/reporting/troubleshooting/ Exchange rate conversion is not done properly # Example # When running a report the conversion is not done using the correct rates. Solution # There is a column named TO_TIME_STRING in the EXCHANGE_RATE table. The purpose of the upgrade procedure explained in this chapter, is to populate this column with correct values. If this upgrade process is not carried out - you will experience wrong exchange results in reporting. /sicsdocs/user_guide/pc/prop_retro_accounting/calc_deposit_interest_tax_on_int/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/calc_deposit_interest_tax_on_int/ If you want the SICS to calculate the Deposit, Interest and Tax on Interest, the conditions must be defined. Refer to Handle Deposit Conditions. Conditions may be equal for all Retrocessionaire’s Participation’s (ORP’s)or one or more of the ORP’smay have special Deposit, Interest and/or Tax on Interest conditions entered. Calculate Premium Deposit # Premium Deposit, if defined, is calculated according to the Premium Deposit regulation defined on the condition. The Premium Deposit cannot be calculated more frequent than the Accounts. /sicsdocs/user_guide/pc/claims/classify_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/classify_claims/ The claim classification items give further details of both the loss characteristics, as well as the business characteristics. Since the combined information is recorded on the claim, you will have a better foundation for reports and for extracting from online claim lists including Find Claims. The classification items are split into the Section Specific Classifications and the Claim Classifications. They can be created and edited in the Claim wizards, or on an existing claim. /sicsdocs/user_guide/pc/business_life_span/business_amendments/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/business_amendments/ You may handle formal changes to an agreement in a coherent and an accurate way by use of the SICS business amendments. They ensure that you for all terms and conditions always see the exact period for which they are valid. This and other amendment features allow your company to follow up also other administrative functions, such as accounting, in a correct and secure way. This chapter covers the general processes involved in recording and maintaining amendments. /sicsdocs/user_guide/pc/accounting/claim_acc/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/claim_acc/ If you have created claims on your business, SICS allows you to handle the Claim Accounting on Claim Worksheets instead of the general Technical Worksheet. The Claim Worksheet differs from the Technical Worksheet since it is specific to a single Claim, or Claims for a specific business. Worksheet validations will consider the bookings made for each claim. Also, the Claim worksheet may or may not be transferred to the ledger; whereas the Technical Worksheet is always transferred to the ledgers. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/reserve_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/reserve_cond/ | Reserve Condition button | When a business agreement includes Premium and/or Loss Reserve conditions, the details of these conditions can be entered in the Reserves Conditions window. | Dependent on the Level-and Type of Business the conditions entered are for information only, or basis for further calculations performed, e.g. by a Retrocession Calculation order. When an Assumed Business and/or an Administration Business are placed from a Cedent’s Contract, they inherit Premium- and Loss Reserve conditions of the Cedent’s Contract. /sicsdocs/user_guide/pc/emessaging/lors/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/emessaging/lors/ The eMessaging module in SICS can process messages created by the LORS system in the London Market. The messages, for outwards business, are not ACORD messages, but can still be processed by eMessaging. They must be converted externally from the original EDIFACT versions into an XML schema that is superficially similar to the ACORD RLC message schema. This conversion is outside the scope of SICS. The following LORS message types are supported: /sicsdocs/user_guide/pc/bp/bp_user_def_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/bp_user_def_info/ SICS gives the option of adding further information to your business partners that is specific for your company’s needs. If your system administrator has defined user-defined fields, you will see these on a tab on the business partner. SICS offers this feature for the following type of partner s: Business Partner Bank Person Third Party To enter user defined information for a business partner: Open the business partner. Click the User Defined Fields tab. /sicsdocs/user_guide/pc/edi/settings_for_edi/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/edi/settings_for_edi/ Open the System Parameters Maintenance window to view and edit settings for EDI. Refer to EDI in the System Parameter Maintenance chapter of the System Administrator’s Guide for more information. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/produce_deviation_reports/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/produce_deviation_reports/ The recovery calculation excludes claim details that fall outside the scope of cover of the Outward Cedent Contract (OCC) or XL CA of Outward (XLCA). To follow up these uncovered amounts you can produce a deviation report after you have run a recovery calculation order. It displays all claim details that remain uncovered with the reason for not being recovered. The report is applicable for Recovery Calculation for Protection Program and Single OCCs. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_claim_advice_limit/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_claim_advice_limit/ /sicsdocs/user_guide/pc/prop_retro_accounting/calc_reserves/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/calc_reserves/ If you want the SICS to calculate the Reserve, the conditions must be defined. Refer to Reserve conditions. Conditions must be equal for all Retrocessionaire’s (no special Reserve condition). Calculate Premium Reserves # Premium Reserve, if defined, is calculated according to the frequency defined on the conditions. The Premium Reserve cannot be calculated more frequent than the Accounts. If Premium Portfolio Withdrawal is defined the Premium Reserve booked for the Insured Period will be reversed when running the last Account of the Insured Period. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/int_prem_reserve_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/int_prem_reserve_cond/ The original premium reserve calculation done when running the original premium reserve order is determined in the internal premium reserve condition of each respective insured period of a business. The unearned premium reserve calculation can be determined by the calculation rule settings on the order. If the option ‘Use Calculation option from Business Internal Premium Reserve Conditions’ is selected on the order screen, these settings are overruled by the unearned premium reserve settings in the internal premium reserve conditions of each individual insured period of a business. /sicsdocs/user_guide/pc/bp/third_party/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/third_party/ On facultative reinsurance business, one of the business partners is the insured. This has a direct relationship with the cedent, but normally not with the reinsurer. Such companies are defined as third parties in SICS. In general, the system handles third parties the same way as business partners. It does however not require as much information and it has some restrictions, like not being able to have a business partner ledger. /sicsdocs/user_guide/pc/claims/life_and_health/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/life_and_health/ For claims affecting life and health reinsurance contracts specific information needs apply. If you use the Life and Health functionality, you can capture this information in Claim Properties, Life and Health tab. You can enter the information when creating a new claim or after the claim has been created. Edit Life and Health Details # Open the claim for which you want to add or edit Policy ID and/or Insured Date of Birth information. /sicsdocs/user_guide/pc/accounting/link_bookings_to_orig_company_from_claim_ws/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/link_bookings_to_orig_company_from_claim_ws/ This option is only enabled when you make a manual claim booking on Outward Cedent’s Contract. Relevant when the OCC has more than one base company and you want to establish a link to the original base company that the claim booking applies to. Link can only be established to base companies assigned to the OCC. In your Claim worksheet, select a ledger currency or select Add Currency from the pop-up menu in the Currency display list to add a currency Select Link OCC Base Company from the menu. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_accounting_classif_split/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_accounting_classif_split/ /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/source_claim_bookings/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/source_claim_bookings/ When you have run an automatic recovery calculation for an Outward Cedent’s Contract either via Protection Program or as a stand-alone Outward Cedent’s Contract, SICS provides you with an overview of the source claim bookings. This overview gives you details about the inward claims and businesses involved in creating the outward recovery. From the Source Claim Bookings window which is accessible from the Claim list you can easily access an overview of the inward claims and the from ground up figures. /sicsdocs/user_guide/pc/business_life_span/terminate_business/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/business_life_span/terminate_business/ Cancel Business Provisionally # Indicate Provisional Cancellation Sent # For continuous treaties, you can record that a provisional notice of cancellation has been submitted. To record the provisional notice of cancellation: Open your business. Select the Partner tab. On the Menu button, select Provisional Cancellation. For PNOC Sent, select Yes. You see the fields required for submitting Provisional Cancellation. Enter the required data and select OK Indicate Provisional Cancellation Not Sent # In some cases you may want to register a reason for a PNOC not having been sent. /sicsdocs/user_guide/pc/bp/handle_collateral_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/handle_collateral_info/ SICS offers to maintain Collateral on a “reinsurer by reinsurer” basis, where the collateral is established for a non-admitted reinsurer’s entire participation across potentially multiple outward agreements. The business partner Collateral include: Letter of Credit Trusts Funds Held Letter of Credit # SICS lets you register information about Letter of Credit. Find and open the Business Partner you want to enter Letter of Credit for. You see the View Business Partner window. /sicsdocs/user_guide/pc/prop_retro_accounting/calc_portfolio/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/calc_portfolio/ If you want the SICS to calculate the Portfolio, the conditions must be defined. (Refer to Portfolio conditions.) Conditions must be equal for all Retrocessionaire’s (no special Portfolio condition). Calculate Premium Portfolio # Premium Portfolio Withdrawal, if defined, is calculated and booked when you run the last Account of an Insured Period. Note that a year must be entered in the field ‘Last Accounting Year’ on the Administration Conditions of the OCC when Premium Accounting Basis ‘Run-Off’, if not, no Portfolio is booked to the ORP. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/change_type_of_recovery_claim/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/change_type_of_recovery_claim/ As mentioned above, the inwards claims are considered either as Single claims (claims included in Recovery without Risk names), Risk Claims (claims included in recovery with risk name), or as part of a Headline Loss. The recovery calculation considers what type of outwards claim is required, and creates outwards claims accordingly. For both single and risk claims, a so-called Dummy Headline Loss is created for recovery purposes. If you have defined the type of recovery incorrectly for the inward claim, SICS allows you to change this. /sicsdocs/user_guide/pc/bp/contact_persons/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/bp/contact_persons/ Persons whom you do business with at your business partners can be registered and maintained in SICS. Find a Contact Person # Search for a Contact Person by Name # If you do not know the exact spelling of your contact person’s name, you can use the Soundex button in your search. The Soundex button starts a phonetic search feature. This feature will display all entries sounding as the name you have typed. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/portfolio_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/portfolio_cond/ When a business agreement includes Premium- and/or Loss Portfolio conditions, you enter the details of these conditions in the Portfolio Conditions window. The Portfolio condition window is only available for Proportional Treaty businesses. Assumed Business and/or Administration Business can be placed from a Cedent’s Contract. When Portfolio Conditions are entered for the Cedent’s Contract, the Assumed Business and Administration Business inherit the conditions. You are not allowed to override the inherited conditions. /sicsdocs/user_guide/pc/claims/loss_estimates/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/loss_estimates/ There is sometimes a need to record and view loss estimates for your total expected exposure for an individual claim, and to see the development of these over time. Together with the actual bookings, the estimates provide you with valuable information. The Loss Estimates can be found as a separate tab on the Claim Properties and are available for Individual Claims only. Create New Estimates # Estimates cannot be created through the claim wizard, and must therefore be created on an already existing claim. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_prot_mult_limit_currencies/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_prot_mult_limit_currencies/ /sicsdocs/user_guide/pc/accounting/remittance_booking/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/remittance_booking/ Access an existing Remittance Worksheet # You may want to access existing Remittance Worksheets in order to view existing details, record new information, or to make changes to the worksheet. If a remittance is ‘In Progress’, ‘Planned’ or ‘Authorised’ (only for Paid Remittances), you can change existing information already recorded on the remittance. You can also change its status to ‘Inactive’, or you can close it, i.e. change the status to ‘Final’. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/base_company_recovery/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/base_company_recovery/ In order to calculate recoveries using each Base Company’s proportion of the total incurred loss as the basis, you must first have created and booked the regular recoveries. In the following an example of two Base Companies is used. The source claim details are Source/assumed Claim Bookings Policy Base Company WK ID Claim ID As of Date Ccy Paid Loss Sorting DIR3350 GRE Base CW5384 #2095 01.02.2012 GBP 100 000,00 2 NPTTY4568 GRE Base B CW5383 #2094 01. /sicsdocs/user_guide/pc/prop_retro_accounting/calc_portfolio_of_reserve/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/calc_portfolio_of_reserve/ If you want the SICS to calculate Portfolio based on predefined reserve entry codes and if you want the system to reverse the Reserve on the current Insured Period and to rebook the Reserve into the next open Insured Period, the condition must be defined. Refer to the chapter Handle Portfolio of Reserve Calculation Conditions. Conditions on the Retrocessionaire Participation can be inherited from the Outward Cedent’s Contract or vary per Retrocessionaire’s (special Portfolio Calculation of Reserve condition). /sicsdocs/user_guide/pc/claims/conflict_of_interest/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/conflict_of_interest/ When your company represents two conflicting interests involved in the same loss occurrence, it may be necessary to prevent some users from accessing one specific claim. SICS allows you to register this conflict information. When a user has been registered as being in conflict for a specific claim, he/she can no longer access the claim, or create any bookings for that claim. Register Conflict of Interest: Open the claim for which you want to register a Conflict of Interest Open the Claim Properties Open the sub-tab Conflict of Interest Press the menu button, and the Edit Conflict of Interest window opens Select the Users which shall be restricted from accessing the claim Press OK Edit Conflict of Interest: /sicsdocs/user_guide/pc/agreem_terms_and_conditions/portfolio_reserve_calc_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/portfolio_reserve_calc_cond/ | Portfolio Calculation Reserve button | You can define conditions enabling the system to calculate and book: | Premium Portfolio based on Premium Reserve Loss Portfolio based on Loss Reserves Other Portfolio based on Other Reserve The conditions apply for Outward Cedent’s Contract (OCC) and Retrocessionaire’s Participation (RP). Running the Retrocession Calculation order performs the calculations. (Refer to the chapter The Retrocession Calculation order for further information.) The Portfolio of Reserve is calculated for an RP 1) when the RP’s share has been changed from one Insured Period to the next or 2) independently of a change in share. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_risk_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_risk_claims/ Protection Insured Period: 01.01.06-31.12.06 Aggregate Limit: USD 6.000.000 Cover: USD 3.000.000 Excess: USD 2.000.000 Claim Basis: Losses occurring Claim Sequence: Date of Settlement Assumption: The Per Event Per Risk Indicator for the Reinsurance Product is set to Per Risk, or Per Risk Or Event. /sicsdocs/user_guide/pc/accounting/business_ledger/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/business_ledger/ When you are looking for detailed accounting information for a business, you enter the Business Ledger. In SICS the Business Ledger window is divided in two parts. The fields presented in the upper part of the window vary depending on the Level of Business. The lower part of the window contains the detailed accounting information of the business. You have several options for searching and sorting the information of the Business Ledger. /sicsdocs/user_guide/pc/claims/annuity_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/annuity_info/ When a claim is subject to Annuity Calculation it is important that the methodology applied do not deviate from the reinsurance contract’s conditions. The methodology applied by the cedents should therefore be verified by the Claims handler. The Claim properties of all assumed claims have an option to register whether any Annuity Calculation is in line with the contractual conditions or not. To register Annuity Information on a claim: Open Claim for which you want to register Annuity information Open Properties - subtab Annuity Press the edit button Record Annuity Calculation information, and add a comment if required, and press OK The Updated information is generated if Annuity Calculation field was updated. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/deduction_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/deduction_cond/ Click the Deductions Conditions button to see the Deduction Conditions window. Here you define terms and conditions for items to be deducted from the premium. These can be used for, for example: Offer or quote request evaluation, and Accounting What you see in the Deduction Conditions window depends on the Type of Business, Main Class of Business, and Level of Business. General Method of Entering Deductions # If it is not the first time you open the window, you have to click the Edit Menu button to make changes. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_combined_limit/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_combined_limit/ Protection Insured Period: 01.01.12-31.12.12 Section Limit type Currency Cover Excess Main Section Top Loss Probability USD 15 000 000 5 000 000 Marine Hull USD 10 000 000 5 000 000 Marine Cargo USD 10 000 000 5 000 000 Claim Basis: Losses occurring Claim Sequence: Date of Settlement Inward Claim booking details: Claim Accounting Classification AC DOS Curr Paid Loss Headline A Marine Hull 01.01.2012 USD 3 000 000 Headline A Marine Cargo 01. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/reinstatement_prem_calc/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/reinstatement_prem_calc/ SICS lets you automatically calculate Reinstatement Premium for your non-proportional Outward Cedent’s Contracts or XL CA Of Outward. The automatic calculation of a Reinstatement Premium is based upon Reinstatement Conditions, Recoveries and Premiums. If Recovery Bookings created via the Recovery Calculation Order have been created on a sub section of an OCC, the system will calculate and book reinstatement premium on the same sub section. Reinstatement Conditions # Click the Reinstatement Conditions button to see the Reinstatement Conditions window. /sicsdocs/user_guide/pc/prop_retro_accounting/reverse_already_produced_book_after_comm_of_retro_participation/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/reverse_already_produced_book_after_comm_of_retro_participation/ In particular situations it is necessary to register that a RP should already have been commuted. The Accounting Period selected in the field Commute per on the partner tab may therefore already be accounted for. In this case, you may want the SICS to reverse bookings already produced to a RP. If the Commutation information has been entered on the Portfolio Calculation Reserve condition, it will be possible to reverse all figures with an Accounting Year and Period higher than the period in the field Commute per. /sicsdocs/user_guide/pc/accounting/bp_financial_ledger/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/bp_financial_ledger/ The Financial Ledger window enables you to view the total financial situation for a business partner. It lets you analyse the information pertaining a business partner. All totals are shown in the original currency, but you can convert totals into other currencies using the exchange fields. The Financial Ledger window is similar to the Business Ledger’s Account Balances Summary tab. At the top of the window are the following fields: /sicsdocs/user_guide/pc/prop_retro_accounting/calc_portfolio_when_change_retro_share/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/calc_portfolio_when_change_retro_share/ You may want the SICS to adjust the Reserve booked on the OCC/RP as basis for the Portfolio when the Gross Retroceded Share for an OCC has been changed from one Insured Period (IP) to the next. This should be done before the retrocession calculation order is produced for the last account on the current IP. Only predefined reserve entry codes booked on the current Insured Period defined in Reserve Calculation Conditions will be adjusted. /sicsdocs/user_guide/pc/claims/claim_uniform_resources_locators/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_uniform_resources_locators/ On certain claims, a ‘Claims URLs’subtab appears on the ‘Properties’ tab. This subtab only appears when the ‘URL Addresses on Claim ‘functionality has been activated by your system administrator. The available URLs are generated based upon the base company and main class of business combination. To open a Claim URL: Open the claim for which you want to open the URL. Click the Properties tab, and then the Claim URL subtab. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/rebate_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/rebate_cond/ | Non-Proportional business Rebate Conditions button | Click the Rebate Conditions button to see the Rebate Conditions window. This is where you record the No Claim Bonus and other Rebate conditions that were part of a non-proportional treaty, proportional direct or proportional facultative business. | Maintain No Claim Bonus # By the SICS rebate conditions, you may maintain terms and conditions regarding the discount in premium that the cedent receives for making no claim. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/produce_tech_acc_statement_of_accounts/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/produce_tech_acc_statement_of_accounts/ Production of Technical Accounts and Statement of Accounts for Non-Proportional Outward Cedent’s Contract is done through the OCC’s Administration Conditions. Go to the Details table of the Administration Conditions Select Create Technical Account Production Order from the pop-up menu. You see the New Technical Account Order window. Title: Enter the title for the new technical account order. Booking Period From and To: Select the start and end dates of the required booking period from the drop-down lists. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_combined_aggregate_limit/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_combined_aggregate_limit/ Protection: Section Cover *Excess Combined Aggregate Limit Aggregate Limit Main section 400 000 100 000 1 000 000 Marine 400 000 100 000 800 000 Aviation 300 000 200 000 600 000 Claim Basis: Losses Occurring Claim Sequence: Date of Settlement Inward Claim Booking details - in date of settlement sequence: Claim Classification Paid Loss Claim A Marine 500 000 Claim B Aviation 350 000 Claim C Marine 500 000 Claim D Aviation 300 000 Recovery Calculation: /sicsdocs/user_guide/pc/accounting/bp_ledger/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/bp_ledger/ The Business Partner Ledger lets you search for, inspect and analyse information pertaining to liquid balances, i.e. account balances and payments, to and from business partners. You can group balances by creating Settlement Balance Groups and Account Balance Groups. Worksheets such as Remittance - and Technical Worksheets may be created from the Business Partner Ledger. These and other functions are described in the further documentation. Open a Business Partner Ledger # | Business Partner Ledger button | To open a Business Partner Ledger, click the Business Partner Ledger button in the Navigation bar on the Business Properties window or on the Business Partner Properties window. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/cancellation_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/cancellation_cond/ Cancellation Conditions button If a reinsurer or a cedent has agreed on conditions for termination of the agreement, it is here that those conditions are defined. The cancellation conditions are not available for businesses with no insured period specified. Note that this type of ‘To be Advised’ insured period only exist if your System Administrator has set up the system to allow for it Maintain Cancellation Conditions # Click the Cancellation Conditions button and you see the Cancellation Conditions window. /sicsdocs/user_guide/pc/prop_retro_accounting/late_accounts/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/late_accounts/ When, figures are retroceded in arrears, it is sometimes required to have the outward bookings converted from Booking to Account currency using the exchange rates available at the time when the figures normally should have been retroceded. Select the field ‘Period End Rate (Original AYRP) on the Currencies/Entry Codes tab on the Administration conditions of the Outward Cedent’s Contract. (System parameter ‘Convert Figures to Account Currency According to Orig Acc Year and Period’ must be activated). /sicsdocs/user_guide/pc/claims/informational_claim_amounts/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/informational_claim_amounts/ If you want to record informational figures of the claim impact on the second level without booking any amounts, SICS allows you to record informational details of the Claim Figures. Create and Edit Claim Figure Amounts # Find and open the claim you want to define the claim amounts for. Click the Claim Figures tab and then click the Edit button in the Amounts section. You see the Edit Claim Section Amounts window. /sicsdocs/user_guide/pc/accounting/mass_update_balances_pairings_ws/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/mass_update_balances_pairings_ws/ SICS lets you update many balances or worksheets at once by using the mass update facilities. You can access these from the Mass Update Functions and the Periodic Functions folders on the SICS desktop. Note! The Reporting Classification Detail Mass Update option is visible if Reporting Classification is in use on your system). The Accounting Balance Pairing Status Mass Update is visible if Pending Status for Balance Pairing is in use in your system. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_orig_currency/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_orig_currency/ Protection: Insured Period: 01.01.09 - 31.12.09 Limit Conditions: Cover: EUR 50.000.000 Excess: EUR 5.000.000 Claim Basis:Losses occurring Assumed Claim with Booking Details: As of Date Entry Code Currency Amount 01.01.09 Paid Loss EUR 6.000.000 31.01.09 Paid Loss GBP 1.000.000. 20.02.09 Paid Loss USD 5.000.000 20.02.09 Loss Reserves USD 5.000.000 Daily Exchange Rate in SICS: Currency Date Rate GBP to EUR 31.01.09 0.65 USD to EUR 31.01.09 1.5 USD to EUR 31. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/retro_calc_order_np/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/retro_calc_order_np/ The Retrocession Calculation Order for Non-Proportional lets you do automatic calculation and booking of deposits to be retroceded to the Retrocessionaire’s Participation (RP) of the OCC. Before running the Retrocession Calculation Order for Non-Proportional, one or more RP’s must be defined on the OCC and the OCC’s Placement List must be complete. The normal procedure in the Non-Proportional Accounting process: Enter Accounts and Accounting Basis on the Administration Condition - Accounts tab. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/change_reinsurers_share/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/change_reinsurers_share/ In some circumstances your XL Treaty Reinsurer(s) may change its share during an Insured Period. The change can take effect from the Insured Period from date or as part of an amendment in share condition. If bookings (premium and/or claim) have been made in SICS before the change takes place, the system will automatically adjust the bookings on the placement as follows: Edit share from Insured Period from date: Changes in share will give an immediate effect on already booked amounts (not considering any system parameters). /sicsdocs/user_guide/pc/claims/claim_desc_claim_summary_comments_notes/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_desc_claim_summary_comments_notes/ For various reasons you may want to record comments and notes to a loss. These comments could be a short description of the loss occurrence that you could use in reports and claim advices you send out to your own retrocessionaires, or it could be a longer description of the loss, actions that you have taken, or even a loss report you have received. SICS allows you to record all this information on a claim. /sicsdocs/user_guide/pc/prop_retro_accounting/dist_rp_figs_on_mult_effective_periods/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/dist_rp_figs_on_mult_effective_periods/ Normally, the retroceded figures are distributed to the Retrocessionaire Participations according to the RP share registered on the newest Effective Period within the Insured Period. In some situations, it is necessary to use the share registered for multiple Effective Periods e.g. when a RP ends the participation during an Insured Period and the corresponding share percentage is recorded for a new RP/increased for an existing RP. Distribution of RP figures to the various Effective Periods is dependent on the system parameter Distribute RP Figures on Multiple Effective Periods being active. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/index_clause_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/index_clause_cond/ Index clauses are only available for non-proportional business. These conditions allow you to record how the contract is indexed and stabilised. You can also record information about which claims and the part of the claim figure that the index should apply to. The index clause enables you to indicate that claims shall be indexed. The index clause can be recorded on the main section of the business and will be inherited to all sub sections, or it can be recorded directly on a sub section. /sicsdocs/user_guide/pc/accounting/insurance_premium_tax_acc/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/insurance_premium_tax_acc/ This section is only relevant for you when your company decides to use the Insurance Premium Tax condition. Refer to section Handle Insurance Premium Tax Condition for more details about the Insurance Premium Tax condition. Book Insurance Premium Tax # You can book the Insurance Premium Tax in four different ways. All of them, except for manual booking on a technical worksheet, require that the Insurance Premium Tax details are pre-entered for the business. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_reinstatement_exhausted_drop/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_reinstatement_exhausted_drop/ The calculation of drop is available for both Treaty and Fac Non-Proportional OCCs. Protection Program Cover Excess AAL Reinst. Exh. Drop OCC1 100,000 100,000 150,000 No OCC2 300,000 200,000 300,000 Yes OCC3 500,000 500,000 500,000 Yes ITB rule for Reinstatement Exhausted has been defined on OCC1 - pointing to OCC2, and OCC2 pointing to OCC3. The Claim Condition of OCC2 and OCC3 indicate that Reinstatement Exhausted should Drop Inwards Claims Bookings /sicsdocs/user_guide/pc/claims/claim_review_update_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_review_update_info/ The Claim Review and Update information fields allows you to record when you were advised of the claim, when you last reviewed it, and when you plan to review it next. In addition the claim “footer” will always display when and by whom the claim was created, and last updated. You find the claim’s review and update information fields on the Section Specific tab, and the entry fields are also accessible through the various claim wizards (The entry fields are initially created in the wizards). /sicsdocs/user_guide/pc/agreem_terms_and_conditions/clause_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/clause_cond/ Maintain Inclusions and Exclusions # Define the clauses that apply to, and clauses that are excluded from, a given business. Open your business Click the CL (Clauses) button in the navigation bar In the in the Available list of General Clauses, select the clause that you require. Click > . Type in Special Clauses included, if you require. In the Available list of the Exclusion Clauses, select the clause that you require. /sicsdocs/user_guide/pc/accounting/insurance_premium_tax_to_tax_authority/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/insurance_premium_tax_to_tax_authority/ This section is only relevant for you when your company is writing direct policies in countries where Insurance Premium Tax is applicable, and when your company decides to capture details about each Insurance Premium Tax rule within SICS under Country Deductions. When this is the case, you can in addition to the Insurance Premium Tax from the Insured also handle the booking and payment of the Insurance Premium Tax to the Tax Authority within SICS. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/insured_based_protection/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/insured_based_protection/ The Insured Based Protection tab on the Accumulation Control for Insured window lets you monitor the business with limits, premiums and claims going into the Protection Program(s). See Handle Business Insurables and Protect Business Reinsurance for more information. Details tab: The business details are listed as per Date of Calculation. The system extracts all business from this Insured with Insured Period starting on or before the Calculation Date. By default, only Definite businesses are extracted. /sicsdocs/user_guide/pc/prop_retro_accounting/premium_loss_details_when_losses_occurring/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/premium_loss_details_when_losses_occurring/ Calculate Portfolio based on source business’ premium detail when OCC Claim Basis ‘Losses Occurring’ # When OCC ‘Claim Basis’ is Losses Occurring’, premium booking coming from source business (e.g. Assumed Business) having an Accounting Period - To which is beyond the Insured Period of the protecting OCC, will be basis for a Portfolio Withdrawal/ Entry booking made on the outward business ledgers ‘as Booking’. A Portfolio Withdrawal will be booked on the current Insured Period and a Portfolio Entry will be booked on the next open Insured Period. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_inc_additional_case_reserve/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_inc_additional_case_reserve/ There is a possibility in the system to capture and calculate Additonal Case Reserves (ACR) for assumed claims, giving the estimated development of headline losses. To monitor the corresponding net loss, we provide the possibility to include ACR in recovery calculation. The calculation is on top of actual incurred loss, and is booked to the Outward Claim and distributed to the retrocessionaires according to their share. The inward ACR / ACR expense must be booked to an inward claim linked to a Headline loss, Risk loss or single Claim (incl. /sicsdocs/user_guide/pc/prop_retro_accounting/auto_calc_vat/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/prop_retro_accounting/auto_calc_vat/ When bookings are created on the as Booking ledger when running the Retrocession Calculation order AND the Use VAT Calculation flag is set on the Insured Period of the OCC (only possible if the system parameter VAT Calculation based on EC Groups is selected), the system will also calculate VAT for all Entry Codes applicable to VAT. The bookings will be automatically done; and will always be on Net Basis, i. /sicsdocs/user_guide/pc/claims/claim_status/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_status/ The Claim Status and sub status indicate whether further financial movements are expected, and allowed, on the claim. On the claim’s Section Specific tab you find the Status Information section. SICS allows you to view the status history by navigating on the date of change. You can change the status information either by creating new information. You can choose if you want to modify the status for the current claim section only, or to modify all sections of the claims simultaneously. /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/commutation_of_np_retro/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/non_prop_retro_ceded_accounting/commutation_of_np_retro/ When you enter into a commutation agreement with one or more of your non-proportional retrocessionaires, SICS automatically calculates the balances due. In order to calculate, the system requires the following: The Retrocessionaire has been marked as “To Be Commuted” for all relevant insured period with a commute per date. Refer to Handle Business Life Span. The Commutation condition is registered for all relevant Insured Periods. Refer to Handle Terms and Conditions. /sicsdocs/user_guide/pc/accounting/commutation_prop_np_retro/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/commutation_prop_np_retro/ When you enter into a commutation agreement with one or more of your proportional/non-proportional Retrocessionaires, SICS automatically calculates the balances due. In order to calculate, the system requires the following: The Retrocessionaire has been marked as “To Be Commuted” for all relevant insured period with a commute per date. Refer to Handle Business Life Span. The Commutation condition is registered for all relevant Insured Periods. Refer to Handle Terms and Conditions. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/deductibles_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/deductibles_cond/ Deductibles Conditions is where you define terms and conditions for amounts that the reinsurer can deduct from a loss. This is often necessary for offer or quote request evaluation, and for accounting purposes. These are available for proportional treaties only. Deductibles conditions button When you click the Deductibles Conditions button you see the Deductibles Conditions window. Select either Loss Participation or Loss Corridor from the drop-down list in order to see the Loss Participation or Loss Corridor window, where you define belonging conditions. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_us_qs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_us_qs/ A US Quota Share treaty is a proportional protection where claim recoveries are calculated based on individual claims or headline losses; i.e. with a claims handling similar to non proportional treaties (ex A). The protection allocation towards a US Quota Share will NOT vary depending on assumed liability and available protection - it is always set to ceded (QS) %. Claims created on the inward business insured period will inherit the policy US Quota Share Protection. /sicsdocs/user_guide/pc/claims/claim_disposition/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_disposition/ The Claim Disposition and Subdisposition are used to indicate the Claim’s Life Cycle Phase, and will determine whether bookings for Loss Payments can be made, and also whether bookings can be transferred to ledgers. On the claim’s section specific tab you find the Disposition Information section. SICS allows you to view the disposition history by navigating on the date of change. You can change the disposition information either by creating new information, or by editing the existing information. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/profit_commission_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/profit_commission_cond/ The Profit Commission window is where you define conditions that apply to the amount to return to the cedent based on the profit generated by the ceded business. The Profit Commission calculated when running the Proportional Retrocession Calculation Order is calculated on an overall level. If bookings are made on different Accounting Classifications, the overall Profit Commission calculated will be split and booked on the different Accounting Classifications proportionally of the Premium booked for the Insured Period of the Accounting Classification. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_for_agg_xl_stop_loss/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_for_agg_xl_stop_loss/ Recovery Calculation for Aggregate XL / Stop Loss - protecting net figures for a specific portfolio # Protection of the cedent’s net loss for a portfolio during a specific period (typically a year). Figures are calculated based upon net result of bookings created at assumed business and retrocessionaires at entry codes defined under Entry Code Groups From Ground Up Paid and From Ground Up Reserve. From ground up figures are calculated by accumulating inward and outward claim bookings for the protected portfolio. /sicsdocs/user_guide/pc/accounting/transfer_to_gl/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/transfer_to_gl/ Tables can be created for transferring of data to the General Ledger. This is done in the Transfer to General Ledger window. Refer to Transfer to General Ledger in the System Administrator’s Guide for more information. /sicsdocs/user_guide/pc/claims/edi_and_emessaging/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/edi_and_emessaging/ The EDI information frame shows three attributes connected to EDI claim message processing. It also allows the user to view any permanent overrides that apply to this claim, and register the dates when he/she has seen the claims file. Former UCR and Former Our Sequence number # If there is a change of broker on a claim supported by EDI messages, it is possible that a new UCR will be issued by the new broker. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/reinstatement_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/reinstatement_cond/ | Reinstatement Conditions button | The Reinstatement condition specifies how many times the cedent can use the cover during the insured period and how additional premium (reinstatement premiums), if any, will be calculated. The reinstatement calculation and booking is automatic for both assumed and outward business. Reinstatement condition is available for non-proportional businesses only and the condition looks the same for all types of business. When type of participation is stop loss or aggregate loss, reinstatement condition is not available. /sicsdocs/user_guide/pc/accounting/occurence_year_allocation_of_losses_order/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/accounting/occurence_year_allocation_of_losses_order/ If you want to reallocate the Occurrence Year of loss bookings and to distribute according to cumulative earned premium per Booking Year, this can be automatically done by running the Occurrence Year Allocation of Losses Order. SICS allocates and reallocates Occurrence Year for all loss bookings on each included business where the Occurrence Year Split has been defined on the Administration Conditions. Loss details found on the business ledger for the actual Underwriting Year and Booking Year/Period are split in one or more loss details per Occurrence Year according to how the relevant accumulated earned premium (both actual and estimates) are split per Booking Year. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_fac_xol/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_fac_xol/ Inwards Contract protected by one or more non-proportional facultative retrocessionaires (ORPs) not linked to an OCC. The claim must be marked as subject to the recovery (either included in recovery, or part of a Headline Loss.) It is not necessary to link the claim to the facultative protection. The Fac XOL share should be the same as the Inwards Share. /sicsdocs/user_guide/pc/claims/claim_references/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_references/ The Claim references are useful since they can be used in Find Claims, and therefore helps you identify the correct claim based on for example the cedent’s or the broker’s claim reference. SICS allows you to record as many Claim references as you require. Create Claim Reference # In Find Claims, retrieve the Claim Loss for which you want to record a Claim Reference. Open the Claim. Open the Section Specific tab. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/admin_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/admin_cond/ On the Administration Conditions window you define the accounts and the details of the accounts applicable for the business. Conditions related to the accounts such as advice- and payment conditions, currency exchange and closed period handling are also defined in the Administration Conditions. When you select the Administration Conditions button, you see the Administration Conditions window. The window that you see varies depending on the type of business. Administration Condition must be defined on main level of the business and cannot be overridden on sub-sections. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_np_occ_fac/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_np_occ_fac/ The claims must be subject to recovery, and also linked to the Non-Prop Fac OCC, or Fac Program. Protection Program Fac Section Cover Excess Agg Limit OCC Share OCC1 100 000 100 000 200 000 90 % Note! The OCC Facmust have a share defined. Inward claims with protection assignment and bookings: Claim Retroceded % Paid FGU Reserve FGU Inward Share Claim 1 100 % 16 000 6 000 10 % Claim 2 100 % 13 000 5 000 10 % Claim 3 100 % 12 000 2 000 10 % Claim Retention Paid Recovery Paid Recovery Reserve Claim 1 100 000 44 000 54 000 Claim 2 100 000 17 000 45 000 Claim 3 100 000 8 000 18 000 Explanation: /sicsdocs/user_guide/pc/claims/emessaging_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/emessaging_info/ Messaging References # eMessaging will automatically create claims with either a Unique Claim Reference or an Originator’s Claim Reference, or both. eMessaging has no restriction on the number of Unique claim references or Originator’s Claim References that can be assigned to a single claim section, so the former limit of one Unique Claim Reference per claim has been removed. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/itb_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/itb_cond/ | Inuring to Benefit Rules button | The Inuring to Benefit Rules button appears only on Non-Proportional Outward Cedent’s Contracts and on Proportional US Quota Share. These conditions are mandatory in order to be able to use the Non-Proportional Recovery System (explained in the Retrocession Accounting chapter)to its full extent. The links that are created to a Program Section or OCC from this condition indicate where unrecoverable losses on this Non-Proportional Outward Cedent’s Contract or US Quota Share OCC are considered for possible recovery. /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_np_occ_fac_itb_rules/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/recovery_calc_np_occ_fac_itb_rules/ Protection Program Fac Section Cover Excess Agg Limit ITB Rule OCC Share Section 1 5 000 000 0 5 000 000 Reinstatement Exhausted covered by Section 2 100 % Section 2 10 000 000 5 000 000 1 000 000 Reinstatement Exhausted covered by Section 3 100 % Section 3 35 000 000 15 000 000 35 000 000 None 100 % Inward claims with protection assignment and bookings: Claim PA link Retroceded % Paid FGU Inw. /sicsdocs/user_guide/pc/claims/claim_bp/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_bp/ A claim may be associated with Business Partners specific to that claim - for instance Loss Surveyors, or a firm of solicitors or other experts. Sometimes you will receive relevant loss information directly from these Partners, or you may want to settle fees directly with them. SICS allows you to maintain the link between the claim and these partners on the Links tab - on sub tab Business Partner - in the Business Partner list box. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/ins_prem_tax_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/ins_prem_tax_cond/ When your company writes policies in countries where Insurance Premium Tax is applicable, SICS efficiently captures and uses the relevant details. Based on your policy, the system derives the tax details from various rules defined at country level. It also keeps track of the taxes due per premium instalment, as well as calculates figures to be accounted and books them. However, this section only concerns the information relevant to the Insurance Premium Tax terms and conditions. /sicsdocs/user_guide/pc/appendix_non_prop/reinstatement_prem_calc_acc_classif_split/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/reinstatement_prem_calc_acc_classif_split/ /sicsdocs/user_guide/pc/claims/assign_claim_to_claimants_or_an_insured/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/assign_claim_to_claimants_or_an_insured/ For specific types of business and claims you may want to record the Claimants and/or the Insured. These parties can be maintained as Third Parties in SICS. As for the Claim Business Partners, payments can be made directly to them. Third Parties can also be used as extract criteria in Find Claim. The Third Party relationship is maintained on the Links Tab - sub tab Business Partner - in the Claimant/Insured display list. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/user_def_cond/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/user_def_cond/ There may be times when you are recording a new business and arrive at a point where you want to enter information conditions that are not covered by “normal” conditions, or, you want to change existing user defined conditions on a treaty. | User Defined Conditions button | Click the User Defined Conditions button to see the User Defined Conditions window where you can register and maintain conditions that have been defined by your SICS System Administrator. /sicsdocs/user_guide/pc/appendix_non_prop/reinstatement_prem_calc_mult_limit_currencies/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/appendix_non_prop/reinstatement_prem_calc_mult_limit_currencies/ /sicsdocs/user_guide/pc/claims/claims_and_headlines/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claims_and_headlines/ If the Claim is part of a major market loss, or an event that is potentially recoverable under your own protections, you can link all occurrences of the claim in a Headline Loss. The option to create the link to a Headline Loss is only enabled for Individual and Interlocking Claims. The link to Headline Loss can for some businesses be mandatory, if your System Administrator has activated this functionality. /sicsdocs/user_guide/pc/agreem_terms_and_conditions/multi_contract_details_in_one_go/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/agreem_terms_and_conditions/multi_contract_details_in_one_go/ Contracts may initially have been registered with a minimum of details. Later, when receiving more or updated information, this may affect several business conditions and other areas such as e.g. classifications, business partners and protection assignments. The update business process allows you to enter new and update existing information in several places in one go. Which e.g. conditions that are presented in the process, depends on what your system administrator has included in the update business process. /sicsdocs/user_guide/pc/claims/view_recovery_claim/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/view_recovery_claim/ When the claim is included in recovery calculation, either as a single claim, or a risk claim, or linked to a Headline Loss, you can get an overview of the Recovery Claim. The list provides an overview of theinward claim/claims and their proportional protections, as well as the different Non-Proportional Treaties under which the claim has been recovered. The View Recovery Claim can be opened from Find Claims, the Claim List, or from the menu on the Claim Properties. /sicsdocs/user_guide/pc/claims/claims_and_claim_programs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claims_and_claim_programs/ The Claim Program sub tab is only available for Individual Assumed Treaty and Facultative Claims, and then only if this functionality is in use. For more details about the Claim Program, refer to Claim Program Handling. Create a Link between Claim and Claim Program # When the Claim Program link is optional (defined in System Parameters), you can create the link between an existing claim and a Claim Program from the claim itself. /sicsdocs/user_guide/pc/claims/claim_cession_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_cession_info/ On the Claim Links tab you find a sub tab called Cessions. In previous versions of SICS, claims had to be created on a section level, and you could indicate on the claim one or more Cessions with or without Objects (cessions and declarations), as they had been defined on the business. In 2.7 the business structure was changed, and cessions and declarations became a part of the ordinary business structure. /sicsdocs/user_guide/pc/claims/assign_claim_to_reporting_unit/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/assign_claim_to_reporting_unit/ If you have divided the work within your Claims Department into smaller groups or segments you can assign the Claim to a Reporting Unit. The claim will obviously always be linked to the Business’ Reporting Unit, irrespective of what has been recorded on the claim. Add/Edit Reporting Unit from Claim # Open Claim Links tab - Reporting Units sub-tab. Select Add/Edit from the pop-up menu. The system opens the Maintain Reporting Unit for Claim window. /sicsdocs/user_guide/pc/claims/claim_funding_letter_of_credit/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_funding_letter_of_credit/ Some markets require a security in form of for example a Letter of Credit, Outstanding Cash Advance, or Loss Reserve Deposits for all outstanding claims. The provision itself is recorded on the Business’ Deposit Condition (DP) on sub-tab Loss. It may also be of interest to capture the amounts required per loss on the claim itself, and SICS allows you to maintain this information in the Funding Properties section found on the sub-tab Claim Figures. /sicsdocs/user_guide/pc/claims/produce_claim_docs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/produce_claim_docs/ Claim documents can be used to provide loss information to internal and external interested parties. The documents that can be produced from within claims are as follows: Claim Advice The claim advice document is a document that is created per claim to section link. The document typically contains information about the claim, and its’ bookings. The Claim Advice can also be used to create a loss advice to your proportional facultative retrocessionaires. /sicsdocs/user_guide/pc/claims/check_business_info_from_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/check_business_info_from_claims/ Sometimes there is a need to check the business whilst reviewing a claim. The Business Information tab of the claim presents some information from the Business, and all the partners as they are recorded on the business. No information can be entered on the claim. From this window you can also access the Business itself, thus allowing further inspection of relevant conditions. Field description 24. - Business Information Field Description Location Business ID The unique SICS generated business identifier. /sicsdocs/user_guide/pc/claims/limits_and_shares/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/limits_and_shares/ Some claims are subject to special conditions that are not general for the business. This might be the situation if there are special deductibles for specific claims, or the claim is indexed (and you for some reason do not want to use the automatic calculation facility), or the cedent/insured agrees to retain more of a specific loss (your share decrease). SICS allows you to record these special conditions for Limit and/or Share for Non-Proportional Assumed Claims, and will if recorded apply these conditions in the From Ground Up calculations and worksheet validations rather than the Business Conditions. /sicsdocs/user_guide/pc/claims/delete_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/delete_claims/ When you have created a claim in error, and no bookingshave yet been made, you have the possibility to delete the claim from the database. You can delete claims from the Business Claim List or from the Claim Program Claim List. Delete Claims from Business Claim List # Open the business from which you want to delete a claim. Click the Claim button on the Navigation bar. In the Claim Lists display list, select the claim you want to delete. /sicsdocs/user_guide/pc/claims/inactivate_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/inactivate_claims/ When you have created a claim in error, but deleting is no longer allowed because bookings exist, you can use the Inactivate functionality instead. This will prevent further bookings on this claim, and also “remove” the claim from all claims lists, as they will by default only display active claims. Open the claim you want to inactivate. Click the Properties tab. Click the Edit button in the Heading Information section. You see the Edit Heading Information window. /sicsdocs/user_guide/pc/claims/reactivate_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/reactivate_claims/ When you have inactivated a claim in error, you can easily reactivate this, and thus enable further bookings to be made. Find and open the inactivated claim you want to reactivate. Open the Properties tab and click the Edit button in the Heading Information section. You see the Edit Claim Heading Information window. Select the Active check box and click OK. /sicsdocs/user_guide/pc/claims/view_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/view_claims/ When you are working with a claim it may be of interest to look at other claims linked to the business, the cedent, the insured, the Claim Program, a Headline Loss, or a Claim Group. If your claim is linked to the same, there are navigation possibilities. The following claims lists can be accessed directly from the Claim, Business, Partner, Headline Loss, Claim Program or Claim Group. View Claims on Business # To open the business claim list directly from a claim: /sicsdocs/user_guide/pc/claims/various_claims_specifics/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/various_claims_specifics/ If the business is affected by many minor claims and you do not want to create separate individual claims for all, you can create a Various claim. The Various claim differ from the individual claims to a certain extent, and these differences will be described in the following. The Various claim is available for all types of business, similar to the Individual claim. Create and Edit Various Claim # The Create Various Claim wizard differs from the Individual Claim wizard as follows: /sicsdocs/user_guide/pc/claims/interlocking_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/interlocking_claims/ The Interlocking Claim is a claim that can be linked to more than one Insured Period. The interlocking clause is recorded on the Claim condition and states that the limits should be recalculated in the same proportion as the year’s loss bears to the whole. In other words, the limits are proportionally reduced. Since the limits will be reduced according to a proportional split it is important to know the loss amount that affects all involved years. /sicsdocs/user_guide/pc/claims/claim_np_xl_and_prop_us_qs_recovery/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_np_xl_and_prop_us_qs_recovery/ In order to calculate the Non-Proportional XL Recovery Calculation you need to indicate that the claim is either a single loss, or part of a Headline Loss. Claims protected by a US Quota Share treaty do not need to be flagged as single claims, or Headline Losses; they are all subject to the simplified recovery calculation. The claims must also contain a link to the relevant proportional US Quota Share and/ or non-proportional XL protections under which it may be recoverable. /sicsdocs/user_guide/pc/claims/visualize_np_prot_assignment/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/visualize_np_prot_assignment/ When your claim is linked to at least one non-proportional protection, the system allows you to view which non-proportional protections may be relevantfor the claim. (Whether the claim is actually recovered from the listed OCCs or not, and by which amount, obviously depends on a number of factors, such as annual aggregate limit, claims affecting the insured period, and so on.) Open the claim for which you want to view the potential protections Open the claim’s Links tab Open the Protection Assignment Select one of the linked protections, and select Visualize Non-Prop XL Protections from the pop-up menu The system opens a graphical presentation of the potential protections The presentation is an overview of the directly linked protections, and those which are linked through Inuring to Benefit rules Through Top and Reinstatement Exhausted. /sicsdocs/user_guide/pc/claims/claim_recovery_from_fac_business_prop_treaty/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_recovery_from_fac_business_prop_treaty/ Non-Proportional Facultative # If your business is covered by a non-proportional facultative protection, you must either set the indicator “Include in Recovery Calculation” or link the claim to a Headline Loss. The link to the protection is however unnecessary. The claim is automatically linked to the Non-Proportional Facultative Protection. The calculation is initiated from the Business Claim List of the Assumed Business. For further details refer to the Recovery Calculation chapter. /sicsdocs/user_guide/pc/claims/claim_booking_info_transfer_to_gl/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_booking_info_transfer_to_gl/ The way accounts are handled varies for the different types of business. Facultative, Direct and Non-Proportional business generally provide more extensive loss details and separate accounts for claims and premiums. Proportional treaties on the other hand are often accounted for on a regular basis, and both claim and premium items are included in these accounts. There is often a high frequency of losses, and no or few details provided. Separate details are generally provided for the major market losses so that losses can be created and recoveries, if any, be made. /sicsdocs/user_guide/pc/claims/claim_fgu/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_fgu/ General information # The From Ground Up (FGU) functionality is specifically designed to handle claim accounting for claims that affect more than one layer, or a program of treaties. It allows you to register claim figures as they affect the cedent in the FGU Advisory (that is figures including the excess point/retentions), as well as details about Policy Deductible, Co-insurance, Reduction, and which interest calculation method that apply. The system will perform a calculation and distribution of the claim across the affected businesses, considering: /sicsdocs/user_guide/pc/claims/fgu_advisory_cedents_claim_figures/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/fgu_advisory_cedents_claim_figures/ The FGU Advisory contains the loss figures as advised by the cedent or insured, and is therefore the basis for all calculations and distribution. When you click the FGU tab, you see the latest FGU Advisory Figures in the upper part of the window, and the latest suggested distribution in the bottom part of the window. In addition, there is a Display Option and an Index Calculation Indicator. Display Option: The display option refers to the distribution list and provides you with three alternatives. /sicsdocs/user_guide/pc/claims/calc_of_loss_suggested_dist/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/calc_of_loss_suggested_dist/ Based upon the Advisory Figures and inuring recovery (described later in this chapter), the system will suggest a distribution of the claim figures to the linked sections. The system will determine the “boundaries” for each linked section, that is the cover amount and excess point, and also determine whether the claim figures should be recalculated. Finally conditions like cost clause, interest clause, franchise deductible, and annual aggregate deductible will impact how the FGU Advisory Figures are distributed. /sicsdocs/user_guide/pc/claims/multiple_curr_claim/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/multiple_curr_claim/ The FGU functionality calculates the distribution for multiple currency claims. Note that a claim is considered as a multiple currency claim when there are more than one currency listed in the Advisory section, even though no advisory figures have been registered. When calculating the distribution of a claim in multiple currencies, the system applies the following rules: Paid Loss is calculated using the Paid Loss split between the currencies. If expenses are Part of Liability, the Paid Expenses are calculated using the same split. /sicsdocs/user_guide/pc/claims/cover_basics/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/cover_basics/ The Cover Basis “Net After Proportional Protections” on the Limit condition of a Non-Proportional Treaty indicates that the treaty is covering the retention of a quota share. The Cover Basis percentage indicates the retained percentage. The From Ground Up calculation will take both these into consideration when registered. Cover Amount on Limit /Cover Basis % = Cover Amount applied in FGU Excess Amount on Limit/Cover Basis % = Excess amount applied in FGU /sicsdocs/user_guide/pc/claims/inuring_recovery/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/inuring_recovery/ If your treaty is subject to Florida Hurricane Catastrophe Fund (FHCF) inuring protection, or other inuring amounts you can register this on the From Ground Up tab, if your System Administrator has activated the functionality. In order to register the Inuring Recovery, you must first register the FGU advisory, as described earlier in this section, as the calculation is based on the FGU figures. To register Inuring Recovery: # Open the From Ground Up tab of the claim for which you want to register Inuring Recovery From the latest advisory, open the sub tab Inuring Recovery From the menu, select New. /sicsdocs/user_guide/pc/claims/policy_deductible/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/policy_deductible/ When the non-proportional policy/business allows for a specific deductible for the claim (not included in the excess), this can be recorded on the Policy Deductible tab. The Policy Deductible will be considered in the FGU Calculation, and will be deducted from the FGU Advisory Amounts prior to the distribution. Example: Limit: 200,000 xs 125,000 Claim: 175,000 PD:25,000 Loss to layer:175,000 less 25,000 less 125, 000 = 25,000 Create New Policy Deductible # When you have been informed that there is a Policy Deductible, or that the Policy Deductible Amount has changed, you can create a new Policy Deductible. /sicsdocs/user_guide/pc/claims/co_insurance/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/co_insurance/ If a proportion of the non-proportional claim is retained by the cedent for example, SICS allows you to take this factor into account in the FGU Calculation. The co-insurance is deducted after the Policy Deductible and can be applied to both the Limit amounts and the Claim Figures (that is all the amounts in the FGU Advisory), or to the Claim Figures only. Co-insurance applied to Claim Figures only # Each of the FGU Advisory figures is recalculated as follows: /sicsdocs/user_guide/pc/claims/reduction/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/reduction/ When the non-proportional Claim and/or Limit information should be reduced for any reason, for example legal sessions, this can be taken into account in the FGU Calculations by defining Reduction Information. The reduction will be applied to the Claim Figures and/or Limit information after the Policy Deductible and Co-insurance. The Reduction can be applied to Claim Figures, Claim Figures and Covers, Covers, or Deductible only. Each of these methods are described below. /sicsdocs/user_guide/pc/claims/costs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/costs/ On the Claim condition there is a possibility to record a Cost/Expense clause and a Calculation Method. This will impact the FGU Distribution depending on the selected calculation method. Cost Clause defined as None or Part of Liability # When the Cost clause is defined as either None or Part of Liability they are considered as part of the Loss Amounts. The system deducts the excess proportionally from both. Note that if you have inuring amounts, the system calculates the proportionate excess using amounts net of inuring amounts. /sicsdocs/user_guide/pc/claims/interests/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/interests/ When a non-proportional section has an interest clause defined, this enables the FGU Advisory fields for interest and the system will distribute the interests as follows: Interest Clause Defined as None # If Interest calculation has been defined as NONE the advisory fields are disabled. Interest Clause defined as No Automatic Calculation # The FGU advisory fields for interest are enabled, but the system will not distribute to the layers. The excess amounts will be deducted from the Loss Amounts only. /sicsdocs/user_guide/pc/claims/indexed_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/indexed_claims/ Index calculation of claims is common in markets where the inflation is very high, or the nature of the policy is long tailed. To ensure that the reinsured has the same cover that he originally bought in monetary terms, despite inflation, and that the reinsurers are not held liable for claims before the reinsured has retained a share equivalent to the monetary amount agreed upon at contract inception, an index clause is introduced. /sicsdocs/user_guide/pc/claims/franchise_deductible/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/franchise_deductible/ One way to obtain coverage for a reduced premium for the cedent, but at the same time ensure full coverage for big losses, is to include a Franchise Deductible condition. The Franchise works so that the cedent will retain a certain percentage of losses that would normally affect the layer (Franchise %) as an additional retention. However, when the loss exceeds the defined Trigger Amount, the cedent is ensured of full coverage, that is no additional retention. /sicsdocs/user_guide/pc/claims/annual_aggregate_deductible/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/annual_aggregate_deductible/ Another way for the cedent to obtain lower premium is to include an Annual Aggregate Deductible condition. The cedent must then retain a certain amount of losses otherwise recoverable. Contrary to the Franchise Deductible, the AAD is normally considered for the entire section as a whole, or in case of combined AAD, a number of sections, and not each loss separately. The exception is when the AAD is recorded as a Percentage of Loss. /sicsdocs/user_guide/pc/claims/fgu_distribution/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/fgu_distribution/ Having performed all the calculations of limits and claim figures, and taking into consideration amounts already booked, the system calculates and displays the result in the Suggested Distribution Display List. Field description 42. - Suggested Distribution Display List Field Description Location Business ID The unique identifier generated by SICS by which the business linked to the claim is known. FGU Recording Section The name of the section the claim is linked to. /sicsdocs/user_guide/pc/claims/quotation_figures/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/quotation_figures/ It can be useful to maintain loss information on a claim record without linking this to accounting. These ground up loss figures can, for example, be used as basis for quotation and pricing upon contract renewal. Open the individual claim for which you want to register the quotation figures. Open the From Ground Up tab/Quotation Figures sub tab Select New from the menu. Define the quotation information as required, and click OK. /sicsdocs/user_guide/pc/claims/edit_fgu_figures/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/edit_fgu_figures/ EDI LIMNET CLASS New Claim and Existing Claim Messages contain From Ground Up (FGU) information. This information is for each currency provided on incurred basis and is automatically added to the Incurred FGU field of the EDI FGU Figures section upon processing. You may also record this FGU information manually. The EDI FGU information is held on an overall level of the claim meaning that the same information applies for all sections of the claim. /sicsdocs/user_guide/pc/claims/maintaining_market_fgu_figures/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/maintaining_market_fgu_figures/ In order to study loss trends, frequency of losses, as well as develop size of loss distributions, it is necessary to register the true “Ground Up losses”. SICS allows you to maintain the latest Market GU Loss figures for a claim, provided your System Administrator has enabled this functionality. Whenever FGU figures are registered, the system defaults the amounts from FGU into the Market Ground Up Loss figures. You can at any time modify the Market GU Loss figures manually, but the “Market Ground Up Loss Review” checkbox is only enabled when at least one of the claim-to-section links is open. /sicsdocs/user_guide/pc/claims/claim_ledger_details_claim_ws_bookings/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_ledger_details_claim_ws_bookings/ View the Claim Ledger # The claim ledger gives you an overview of all bookings created for a specific claim-to-section link on a Claim Worksheet, sorted by the As of dates or Date current status of worksheet was set, if this has been chosen by your System Administrator. Opposed to the Business and Business Partner Ledgers, which only include worksheets transferred to the ledger, the Claim Ledger will also include those that were not transferred. /sicsdocs/user_guide/pc/claims/joint_contract_dual_stamps/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/joint_contract_dual_stamps/ Joint Contracts (often referred to as Dual Stamps or Twin-Band/Tri-band contracts) cannot hold claims, and all claims handling must be performed directly from the Joint Contract’s Assumed Business Placements. Create Claims on Joint Contracts # To ensure that all claims are created for all placements, manual claim creation can only be performed on the Assumed Business where the Reinsurer is the Administrator. SICS automatically creates the corresponding claim on all other assumed businesses linked to the same Joint Contract. /sicsdocs/user_guide/pc/claims/claim_handling_and_data_protection/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_handling_and_data_protection/ Claims Handling And Data Protection # If your System Administrator has activated Claim Data Protection in your database what you can see and edit on an existing claim depends on which attributes have been determined (in System Parameters) as holding sensitive information, and thus only should be visible to some users, and your user role Claim Data Protection Access Right domain restrictions definition. (Refer to System Administration Guide Domain Restriction chapter. /sicsdocs/user_guide/pc/claims/claim_groups_general_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_groups_general_info/ A Claim Group is a grouping of claims (various, interlocking, or individual) that can be used for any other purpose than accumulation control. You could for example use a Claim Group to easily view claims and related bookings for Environmental Claims. Since the purpose of the Claim Group is entirely user defined, there are no validations. /sicsdocs/user_guide/pc/claims/find_claim_groups/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/find_claim_groups/ When you decide that you want to link the claim to a Claim Group, the first step would be to search for any existing Claim groups in the system. The Claim group consists of a Category and a Name, and can be active or Inactive. Double-click the Claim Group icon in the Claim folder on the SICS desktop. You see the Find Claim Group window. Select category from the drop-down list. /sicsdocs/user_guide/pc/claims/create_claim_groups/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/create_claim_groups/ If your search for the existing Claim Groups did not retrieve any suitable match, you must create a new group. This can be done from the Find Claim Group window or from the Claim itself. Both processes are described below. Create Claim Group from the Find Claim Group window # Double-click the Claim Group icon in the Claim folder on the SICS desktop. You see the Find Claim Group window. Click Create New or select New from the pop-up menu. /sicsdocs/user_guide/pc/claims/delete_claim_groups/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/delete_claim_groups/ After some time you might decide that a Claim Group no longer serves a purpose, or was actually created in error. SICS allows you to easily delete the Claim Group. Double-click the Claim Group icon in the Claim folder on the SICS desktop. You see the Find Claim Group window. Click Find Now to list all Claim Groups in the display list. Select the Claim Group you want to delete. Select Delete from the pop-up menu. /sicsdocs/user_guide/pc/claims/inactivate_claim_groups/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/inactivate_claim_groups/ If you for some reason do not want to delete the Claim Group, but at the same time do not want it to appear on all lists, you can select to Inactivate it. Open the Claim Group from the SICS desktop. Find the Claim Group you want to Inactivate, and select Properties from the pop-up menu. Click the Edit button. Clear the Active check box. Click OK. /sicsdocs/user_guide/pc/claims/view_claim_list_for_claim_group/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/view_claim_list_for_claim_group/ The Claim Group provides you with a list of all the claims linked to the Group and the proportion of the bookings in the original booking currency. Open the Claim Group from the SICS desktop. Find the Claim Group you want to view. Select Properties from the pop-up menu. The linked claims with bookings are displayed. /sicsdocs/user_guide/pc/claims/link_claim_to_claim_group/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/link_claim_to_claim_group/ To include a claim in a Claim Group, you must create a link between the Claim and the Claim Group. This link is created from the Claim itself, or from the Claim Group Claim List. Link Claim to Claim Group from Claim Group # Open the Claim Group from the SICS desktop Find the Claim Group you want to link a claim to and select Properties from the pop-up menu. The linked claims with bookings are displayed. /sicsdocs/user_guide/pc/claims/delete_links_between_claim_and_claim_group/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/delete_links_between_claim_and_claim_group/ If you created a link between the Claim Group and a claim in error, SICS allows you to easily remove this link. Delete Link between Claim and Claim Group from Claim # Find the Claim for which you want to remove a Claim Group Link. Open the Claim Properties. Open the Claim Links, sub-tab Claim Groups. Select Edit from the pop-up menu Select the Claim Group link you want to delete. /sicsdocs/user_guide/pc/claims/headline_loss/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/headline_loss/ The Headline Loss is a grouping of individual claims for accumulation and recovery purposes. The Headline Loss can be created without a link to any Business and hence be purely informational. /sicsdocs/user_guide/pc/claims/find_headline_loss/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/find_headline_loss/ When you want to link a claim to a Headline Loss, or when you want to register a new Headline Loss, the first step would normally be to search amongst the existing Headlines. SICS allows you to use numerous extract criteria, to facilitate this search. Some possible searches are described below. Search for Headline Loss by Identifiers, Name and Dates # Open the Find Headline Loss window from the SICS desktop. /sicsdocs/user_guide/pc/claims/delete_headline_loss/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/delete_headline_loss/ If you create the Headline Loss in error, or if you determine that the Headline Loss is no longer required, there is a possibility to delete the Headline Loss provided you have not included the Headline in a Recovery Calculation. Refer to Recovery calculations for further details. When you delete the Headline Loss, you only delete the Headline and the links to this Headline on all the linked assumed claims. The assumed claims will naturally remain. /sicsdocs/user_guide/pc/claims/inactivate_headline_loss/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/inactivate_headline_loss/ If you cannot delete the Headline loss because it has been included in a recovery calculation, you can select to inactivate the Headline. Note! Inactivating a Headline Loss will have no impact on the linked claims. Open Headline Loss from the SICS desktop. Open the Headline Loss you want to inactivate. Click the Edit button in the Heading Information section. Clear the Active check box. Click OK. Field description 50. - Inactivate Headline Loss Field Description Active Indicator if whether the Headline loss is active or inactive. /sicsdocs/user_guide/pc/claims/maintain_headline_loss_location_classif_and_references/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/maintain_headline_loss_location_classif_and_references/ When the headline loss has been created, you can register additional loss information such as location, risk zone indicator, classification items, and headline loss references. Edit Headline Loss Location and/or Risk Zone # The Headline Loss location is optional information, but when recorded all linked claims will be validated against this. The Area of Jurisdiction and Risk Zone are purely informational. In Find Headline Loss, retrieve the Headline Loss for which you want to record or edit a location. /sicsdocs/user_guide/pc/claims/additional_security_for_bookings_and_links_claims/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/additional_security_for_bookings_and_links_claims/ As for claims, you can easily indicate that any bookings linked to this Headline will require an additional security level. This means that the user who creates the worksheet cannot close it, unless appropriate security is allocated. Set Security Requirements # In Find Headline Loss, retrieve the Headline Loss for which you want to require additional security. Open the Headline Loss. Click the Edit button in the Heading Information section. Select Claim Security check box. /sicsdocs/user_guide/pc/claims/register_additional_headline_loss_info/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/register_additional_headline_loss_info/ As for claims there are various methods to record additional Headline Loss Information. Which one to select depends on the length or size of the information, the type of information and also whether you want to be able to report the information. Record Short Description # The Short Description allows you to note a few comments of the Headline Loss, and the available space is limited (1000 characters). In Find Headline Loss, retrieve the Headline Loss for which you want to record a short description. /sicsdocs/user_guide/pc/claims/headline_loss_market_estimates/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/headline_loss_market_estimates/ The Market Loss Estimate provides you with useful information when comparing this against your own actual exposure. SICS allows you to record the Market Loss, and the development of this, at a detailed level. Create Detailed Market Loss Estimates # The detailed market loss estimates allows you to break down the estimate into currencies, line of Business, and even insured. This allows you to analyse the Market Loss in greater detail. /sicsdocs/user_guide/pc/claims/headline_loss_company_estimates/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/headline_loss_company_estimates/ The Headline Loss Company Estimate is the estimates relevant to your company (or group of companies) only. SICS allows you to create such estimates in different currencies, so that you can see the development of these over time. Create Headline Loss Company Estimate # Open the Headline Loss from the SICS desktop. In Find Headline Loss, retrieve the Headline Loss for which you want to Create a Company Loss Estimate. In the Estimate section of the Properties tab, select Company. /sicsdocs/user_guide/pc/claims/view_claims_linked_to_headline_loss/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/view_claims_linked_to_headline_loss/ The Claim List and Non-Proportional Recovery List of the Headline Loss provide an overview of the Headline Loss total amounts for Assumed Businesses, and Non-Proportional Outwards Businesses respectively. For the Assumed Claims you can also get an overview of the proportional protections, amounts retroceded and the unplaced amounts. In addition you can see what has actually been booked on the retrocessionaires. This amount may be different from the placed amount due to retro calculation not having been run, or actual share differs from applied share, or one or more of the retrocessionaires have been commuted. /sicsdocs/user_guide/pc/claims/headline_loss_event_groups/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/headline_loss_event_groups/ If your System Administrator has enabled this function, SICS allows you to create Event Groups on a Headline Loss. The purpose of such Event Groups is to extract and group claims which are linked to the Headline loss, and calculate and book the IBNR for the subset, using pre-defined calculation rules. The Event Group contains criteria identifying which claims are to be considered in the calculation of the group’s Event IBNR, linked claims, and Calculation Data, including Loss Development Pattern. /sicsdocs/user_guide/pc/claims/headline_loss_group/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/headline_loss_group/ SICS lets you link two or more Headline Losses to indicatethat these are a part of a bigger catastrophe. The grouping of these headline losses allows reporting and extraction of figures on the combination of these Headline losses. Find Headline Loss Group # When you decide that you want to link the Headline Loss a Headline Loss Group, the first step would be to search for any existing Headline Loss groups in the system. /sicsdocs/user_guide/pc/claims/claim_program/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claim_program/ The Claim Program functionality facilitates claims administration in general, and especially when the claim affects multiple treaties, or facultative businesses. Linking both treaties or facultative business and claims to a Claim Program enables you to view both claims and corresponding premium figures for all the linked nusinesses in one place. The treaty businesses can be grouped in a Reinsurance Program but this is not required. The functionality available to you from the Claim Program enables efficient Claims Handling, and improved workflow. /sicsdocs/user_guide/pc/claims/create_claim_program/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/create_claim_program/ If you want to use the advantages the Claim Program offers for your individual treaty and facultative claims administration, and cannot find an existing Program that matches your claim, you can create a new Claim Program from: Find Claim Program window, or The Business Claim List Claim Program tab, or As part of any of the claim or move claim wizards. Each of these processes will be described in detail in this chapter. /sicsdocs/user_guide/pc/claims/view_claim_programs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/view_claim_programs/ To see the details of a Claim Program, such as the Classifications and Area, the linked businesses, and the linked claims, you must first access the Claim Program. The Claim Program is accessed either through Find Claim Program, from the Business Claim List of a treaty or facultative business, or from an assumed individual claim that is linked to a Claim Program. The three processes are described below. View Claim Program from Find Claim Program # Open Claim Program icon from desktop and perform a search. /sicsdocs/user_guide/pc/claims/edit_claim_program/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/edit_claim_program/ A Claim Program contains information about the classifications, the period, and it may contain information about premium and/or exclusions. All claims and businesses linked to the Claim Program will adhere to the same classifications and will be within the Claim Program Period. The Claim Program must contain a link to at least one business, and it may contain links to claims. In the following we will describe how to view and maintain the information apart from claims and businesses. /sicsdocs/user_guide/pc/claims/treaty_links/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/treaty_links/ The Claim Program can be linked to more than one treaty or facultative business from the same cedent. These businesses can be other individual treaties (that is businesses without a link to a Reinsurance Program), or they can be treaties that are part of the same Reinsurance Program or other Reinsurance Programs. If your System Administrator has activated this functionality, the Claim Program can include treaties from more than one Reinsurer. /sicsdocs/user_guide/pc/claims/claims_from_claim_programs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/claims_from_claim_programs/ The Claim Program includes a separate Claim List tab. This tab includes two sub tabs, the Linked Claims and the Linked Claim Figures. From these you can easily view and administer claims affecting the Claim Program. The pop-up menu from the Linked Claims gives you the option to create and delete claims, navigate to Claim Ledger and From Ground Up Recording, and for treaty Claim Prorams also move a claim from one Claim Program to another. /sicsdocs/user_guide/pc/claims/notes_comments_for_claim_programs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/notes_comments_for_claim_programs/ A separate Notes tab has been included if you want to add some comments on the Claims Program. Open the Claim Program - Notes tab. Click the Edit button. Enter Notes. Click OK. Refer to Notes Handling for further details. /sicsdocs/user_guide/pc/claims/renew_claim_programs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/renew_claim_programs/ The businesses included in a Claim Program can have several Insured Periods, whereas the Claim Program period must be within a single Insured Period of the linked businesses. As the purposes of a Claim Program is efficient claims handling and to give an overview of premiums and claims, not only for a single insured period but also for the entire period you are at risk, SICS offers a Renewal option on the Claim Program. /sicsdocs/user_guide/pc/claims/inactivate_claim_programs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/inactivate_claim_programs/ If you have created the Claim Program in error you can inactivate the Claim Program in order to prevent further claim assignment to the Claim Program and/or renewal of the Claim Program. The Claim Program is Activated or Inactivated with a check box on the Claim Program Properties tab. Select and open the Claim Program you want to inactivate from Find Claim Program, or from the Business Claim List. In the Claim program properties window click the Edit button. /sicsdocs/user_guide/pc/claims/delete_claim_programs/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/delete_claim_programs/ If a Claim Program has been created in error it is possible to delete it from the database. The deletion can be done either from Find Claim Program window or from the Business Claim List. Open the Claim Program from desktop and search for the Claim program you want to delete, or open the Assumed Treaty or Facultative Business and select the claims icon to open the Business Claim List and select the Claim Program tab. /sicsdocs/user_guide/pc/claims/individual_claims_when_claim_program_is_in_use/ Mon, 01 Jan 0001 00:00:00 +0000 /sicsdocs/user_guide/pc/claims/individual_claims_when_claim_program_is_in_use/ General # When the Claim Program functionality is in use, you will see the following changes in SICS on desktop, the Business Claim List, the various claim wizards and individual treaty and facultative claims: The SICS desktop has a new Claim Program folder. The Business Claim List is enhanced with a Claim Program tab. The Claim wizards for Individual Assumed Treaty and Individual Facultative Claims (Create, Assign and Copy) have been enhanced with a Claim Program selection page.