Handle Rebate Conditions

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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.

Open your contract
Select the RB button
Enter the no claim bonus conditions as you require.

When you select Percent, a field appears where you can type in the percent. When you select Original or None, no more claim bonus conditions need to be given.

Proportional
Business
Rebate Conditions button |

For proportional direct and proportional facultative business you can store several Rebate Conditions. Click the Proportional Rebate Conditions button. |

Select the box if the rebate conditions apply to the Gross premium. The Rebate Properties are used to register Loss Ratio rebate. (For example, if the Loss ratio percent is below 50% the client gives a 2% rebate on the premium). You can fill in the Loss Ratio Percent, Calculation Date and Years before Loss Ratio Calculation together with the Rebate Percent, but these fields are not mandatory.

The Premium Discount Rate, is a “ship owner” rebate.