Click the Deductions Conditions button to see the Deduction Conditions window, where conditions for items to be deducted from the premium are defined. The Deduction Conditions window is used to show deduction conditions for a business for: Offer or quote request evaluation, and Accounting General Method of Entering Deductions # | Remember: If it is not the first time you open the window, you have to click the Edit Menu button to make changes. ...
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. ...
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. ...
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. ...
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: ...
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. ...
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. ...
| 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. ...
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. ...
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: ...