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.
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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.
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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.
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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.
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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
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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.
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The Claim Program sub tab is only available for Individual Assumed Treaty 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.
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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.
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