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. ...
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. ...
| 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. ...
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. ...
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. ...
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 from the System Administration Utility. In the Inbound Interfaces folder there is an icon called Ultimate Loss Ratio Import. Just double-click that and the file selection window opens up. Then select the external file that contains the data that shall be uploaded. ...
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. ...
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. Claims List: Select Create Recovery Order options from the pop-up menu. The Insured Periods window appears showing all Insured Periods of the OCC/XLCA. ...
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 ...
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. ...