Handle Index Clause Conditions

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.

The index clause can be recorded as part of an amendment, in which case claims prior to the amendment cannot be indexed. The Index clause requires that your system administrator has recorded Indexes in the system.

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Index Clause button |

Click the Index Clause button. You see the Index Clause window. |

Add Index Clauses #

Give your business the details required for indexing of a contract.

1. Click the Index Clause button.
2. Click the Menu button and select Add from the pop-up list. You see Index Clause window in Edit mode.
3. Select the country from which you want to retrieve an index from the drop-down list. For example, United Kingdom.
4. Click the Select index from country button. You see the Select Country Index window for the country you have selected.
5. Select index table type you want to use when calculating the indexed cover and excess.
6. Select the base index date and click Save to return to the Index Clause window. The system defaults information from the index table.
7. Add the remaining required details and click OK.

Note! The index condition is ignored in the Recovery Calculation for Non-Proportional Treaty OCCs if you have activated any of the indicators “Increase FGU with OCC Retention” or “Apply Inwards Claim Limits for Single Claim” on the OCC’s Claim Condition.